HC Wainwright Has Lowered Expectations for Ascendis Pharma A/S (NASDAQ:ASND) Stock Price

Key Points

• HC Wainwright cut its price target on Ascendis Pharma from $344 to $335 but maintained a Buy rating; the revised target implies 25.44% upside from the current share price.
• Analyst sentiment remains broadly positive: 19 analysts rate the stock Buy and two Hold, for a Moderate Buy consensus and an average price target of $305.50.
• In its latest reported quarter, Ascendis Pharma’s EPS of $1.03 missed the $1.71 consensus, while revenue of $387.22 million exceeded analysts’ $376.75 million estimate.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) had its price objective dropped by HC Wainwright from $344.00 to $335.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. HC Wainwright's target price suggests a potential upside of 25.44% from the company's current price.

Several other analysts also recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Ascendis Pharma A/S from $333.00 to $330.00 and set a "buy" rating on the stock in a report on Monday, August 31st. Barclays dropped their price objective on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. Morgan Stanley cut their price objective on Ascendis Pharma A/S from $275.00 to $273.00 and set an "overweight" rating for the company in a research report on Tuesday, September 1st. Wall Street Zen upgraded Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research report on Sunday, November 8th. Finally, Citigroup reduced their target price on Ascendis Pharma A/S from $360.00 to $330.00 and set a "buy" rating on the stock in a research note on Monday, October 26th. Nineteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $305.50.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ ASND opened at $267.07 on Friday. The firm has a market capitalization of $16.66 billion, a P/E ratio of 20.72 and a beta of 0.40. Ascendis Pharma A/S has a one year low of $188.07 and a one year high of $282.15. The company's fifty day moving average is $242.58 and its two-hundred day moving average is $239.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.32 and a current ratio of 2.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.71 by ($0.68). Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. The company had revenue of $387.22 million during the quarter, compared to analysts' expectations of $376.75 million. Analysts forecast that Ascendis Pharma A/S will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Mads Bodenhoff sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $270.19, for a total value of $810,570.00. Following the completion of the sale, the senior vice president directly owned 3,000 shares in the company, valued at approximately $810,570. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 40.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ascendis Pharma A/S

A number of institutional investors have recently modified their holdings of ASND. Allworth Financial LP raised its stake in shares of Ascendis Pharma A/S by 103.4% during the second quarter. Allworth Financial LP now owns 240 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 122 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Ascendis Pharma A/S by 34.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 272 shares of the biotechnology company's stock valued at $62,000 after purchasing an additional 69 shares during the period. Fifth Third Bancorp increased its stake in Ascendis Pharma A/S by 48.4% in the 3rd quarter. Fifth Third Bancorp now owns 279 shares of the biotechnology company's stock worth $64,000 after purchasing an additional 91 shares in the last quarter. Parallel Advisors LLC raised its holdings in Ascendis Pharma A/S by 94.9% during the 1st quarter. Parallel Advisors LLC now owns 304 shares of the biotechnology company's stock worth $70,000 after buying an additional 148 shares during the period. Finally, IFP Advisors Inc raised its holdings in Ascendis Pharma A/S by 3,491.7% during the 2nd quarter. IFP Advisors Inc now owns 431 shares of the biotechnology company's stock worth $115,000 after buying an additional 419 shares during the period.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a biopharmaceutical company headquartered in Denmark that develops medicines for rare diseases, with a focus on endocrinology. Founded in 2006, the company uses its TransCon technology platform to design therapies intended to provide sustained delivery of medicines. Its commercial products include SKYTROFA (lonapegsomatropin), a once-weekly growth hormone treatment for children with growth hormone deficiency, and YORVIPATH (palopegteriparatide), a treatment for adults with hypoparathyroidism.

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