Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 4.1% - What's Next?

Key Points

• Ascendis Pharma A/S's shares fell by 4.1% during mid-day trading, reaching a low of $206.71 before closing at $201.81, with trading volume down 47% from average levels.
• Several analysts have increased their price targets for ASND, with UBS Group and Citigroup setting targets at $307.00 and $290.00 respectively, indicating strong buy sentiments for the stock.
• The company reported earnings of ($0.93) per share, exceeding analyst expectations of ($1.42) and generating revenue of $216.28 million, surpassing the forecast of $163.17 million.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report)'s share price traded down 4.1% during mid-day trading on Monday . The company traded as low as $206.71 and last traded at $201.81. 252,505 shares were traded during mid-day trading, a decline of 47% from the average session volume of 478,512 shares. The stock had previously closed at $210.50.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ASND shares. Wedbush raised their price target on Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cantor Fitzgerald boosted their target price on shares of Ascendis Pharma A/S from $203.00 to $254.00 and gave the company an "overweight" rating in a report on Monday, October 13th. UBS Group reiterated a "buy" rating and issued a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Citigroup reissued a "buy" rating and set a $290.00 price objective (up from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $295.00 target price (up from $289.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ascendis Pharma A/S has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Ascendis Pharma A/S Price Performance

The firm has a 50-day simple moving average of $199.16 and a 200 day simple moving average of $177.83. The company has a market capitalization of $12.66 billion, a PE ratio of -39.77 and a beta of 0.41.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.49. The company had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million. Equities research analysts expect that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of institutional investors have recently added to or reduced their stakes in ASND. Rhumbline Advisers lifted its position in Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock worth $249,000 after purchasing an additional 55 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ascendis Pharma A/S by 0.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 12,186 shares of the biotechnology company's stock valued at $2,103,000 after buying an additional 73 shares during the period. Main Management ETF Advisors LLC boosted its stake in Ascendis Pharma A/S by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 5,864 shares of the biotechnology company's stock valued at $1,012,000 after buying an additional 96 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ascendis Pharma A/S by 15.2% during the third quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company's stock worth $146,000 after acquiring an additional 97 shares during the period. Finally, Gilbert & Cook Inc. raised its position in Ascendis Pharma A/S by 2.0% in the second quarter. Gilbert & Cook Inc. now owns 6,750 shares of the biotechnology company's stock worth $1,165,000 after acquiring an additional 131 shares in the last quarter.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.

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