Ascendis Pharma A/S (NASDAQ:ASND) Upgraded by HC Wainwright to Strong-Buy Rating

Key Points

• HC Wainwright upgraded Ascendis Pharma A/S to “strong buy,” adding to a broadly positive analyst outlook. The stock has an average “buy” rating and a consensus price target of $302.68.
• Ascendis reported quarterly revenue of $387.22 million, exceeding estimates of $376.75 million, but earnings per share of $1.03 fell short of the $1.71 consensus forecast.
• Shares opened at $249.36, with a market capitalization of approximately $15.56 billion. Director Jean Jacques Bienaime purchased 2,000 shares, while company insiders collectively own 40% of the stock.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was upgraded by investment analysts at HC Wainwright to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Citigroup began coverage on Ascendis Pharma A/S in a research note on Monday, May 18th. They issued a "buy" rating and a $355.00 price target on the stock. Royal Bank Of Canada boosted their target price on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Weiss Ratings raised shares of Ascendis Pharma A/S from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, July 15th. Morgan Stanley lifted their price target on shares of Ascendis Pharma A/S from $256.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, TD Cowen upped their price objective on shares of Ascendis Pharma A/S from $325.00 to $341.00 and gave the company a "buy" rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Ascendis Pharma A/S presently has an average rating of "Buy" and a consensus target price of $302.68.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock opened at $249.36 on Thursday. The stock has a 50-day moving average price of $255.40 and a two-hundred day moving average price of $239.02. Ascendis Pharma A/S has a 12 month low of $186.05 and a 12 month high of $282.15. The company has a market capitalization of $15.56 billion, a PE ratio of 19.35 and a beta of 0.39. The company has a current ratio of 2.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.27.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.71 by ($0.68). Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%.The business had revenue of $387.22 million for the quarter, compared to analyst estimates of $376.75 million. Analysts expect that Ascendis Pharma A/S will post 3.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Jean Jacques Bienaime bought 2,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $246.33 per share, with a total value of $492,660.00. Following the transaction, the director directly owned 2,900 shares in the company, valued at $714,357. This represents a 222.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 40.00% of the company's stock.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors and hedge funds have recently modified their holdings of ASND. Nomura Asset Management Co. Ltd. grew its stake in Ascendis Pharma A/S by 57.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,701 shares of the biotechnology company's stock valued at $9,319,000 after purchasing an additional 15,950 shares during the period. Candriam S.C.A. boosted its holdings in shares of Ascendis Pharma A/S by 23.2% in the 1st quarter. Candriam S.C.A. now owns 230,278 shares of the biotechnology company's stock worth $52,671,000 after buying an additional 43,338 shares during the last quarter. Orbimed Advisors LLC grew its position in Ascendis Pharma A/S by 5.8% during the first quarter. Orbimed Advisors LLC now owns 181,977 shares of the biotechnology company's stock valued at $41,624,000 after buying an additional 10,000 shares during the period. Cormorant Asset Management LP bought a new position in Ascendis Pharma A/S during the fourth quarter valued at about $21,324,000. Finally, UBS Group AG increased its holdings in Ascendis Pharma A/S by 57.9% during the fourth quarter. UBS Group AG now owns 308,190 shares of the biotechnology company's stock worth $65,718,000 after buying an additional 112,986 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

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