Bank of America Has Lowered Expectations for Ascendis Pharma A/S (NASDAQ:ASND) Stock Price

Key Points

• Bank of America lowered Ascendis Pharma’s price target from $306 to $304 but maintained a “buy” rating, implying 14.42% upside from the previous close. Analysts overall rate the stock “Buy,” with an average target of $304.95.
• Ascendis shares rose 7.2% to $265.69 in Monday trading, though the company’s latest quarterly EPS of $1.03 missed expectations of $1.71 while revenue of $387.22 million exceeded forecasts.
• Insider and institutional activity was positive: Director Jean Jacques Bienaime purchased 2,000 shares, while several investment firms increased their stakes; insiders collectively own 40% of the company.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective dropped by analysts at Bank of America from $306.00 to $304.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Bank of America's target price indicates a potential upside of 14.42% from the stock's previous close.

Several other research firms have also issued reports on ASND. UBS Group set a $345.00 price target on shares of Ascendis Pharma A/S in a report on Monday. Wall Street Zen upgraded Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. BMO Capital Markets started coverage on Ascendis Pharma A/S in a research note on Tuesday, August 18th. They set an "outperform" rating and a $319.00 price target on the stock. TD Cowen increased 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 research report on Friday, August 14th. Finally, Barclays dropped their target price on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating on the stock in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Ascendis Pharma A/S has an average rating of "Buy" and an average price target of $304.95.

Ascendis Pharma A/S Stock Up 7.2%

Shares of NASDAQ ASND traded up $17.78 during mid-day trading on Monday, reaching $265.69. 642,201 shares of the company were exchanged, compared to its average volume of 672,751. The firm has a 50-day moving average of $255.74 and a 200 day moving average of $239.20. Ascendis Pharma A/S has a 1 year low of $186.05 and a 1 year high of $282.15. The company has a quick ratio of 2.32, a current ratio of 2.99 and a debt-to-equity ratio of 0.27. The stock has a market cap of $16.57 billion, a price-to-earnings ratio of 20.61 and a beta of 0.39.

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

Insider Transactions at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, Director Jean Jacques Bienaime purchased 2,000 shares of Ascendis Pharma A/S stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $246.33 per share, with a total value of $492,660.00. Following the transaction, the director owned 2,900 shares of the company's stock, valued at $714,357. This represents a 222.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 40.00% of the company's stock.

Institutional Inflows and Outflows

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

About Ascendis Pharma A/S

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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