Ascendis Pharma A/S (NASDAQ:ASND) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ascendis Pharma A/S from “buy” to “hold,” even though the broader analyst view remains positive with a consensus rating of “buy” and a consensus price target of $295.67.
• The stock was trading up 0.5% at $261.00, near its 52-week high of $282.15, with a market cap of $16.28 billion and a beta of 0.37.
• Recent quarterly results were mixed: Ascendis beat EPS expectations at $0.32 versus $0.21 expected, but revenue of $285.45 million came in below the $362.47 million consensus estimate.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other equities analysts also recently commented on the stock. Oppenheimer reissued an "outperform" rating on shares of Ascendis Pharma A/S in a research note on Tuesday, June 9th. Wells Fargo & Company dropped their target price on Ascendis Pharma A/S from $330.00 to $326.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Evercore reiterated an "outperform" rating and issued a $329.00 price target on shares of Ascendis Pharma A/S in a report on Friday, May 15th. Citigroup started coverage on Ascendis Pharma A/S in a research report on Monday, May 18th. They issued a "buy" rating and a $355.00 price target for the company. Finally, Wedbush restated an "outperform" rating and set a $273.00 price objective on shares of Ascendis Pharma A/S in a research note on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $295.67.

Ascendis Pharma A/S Trading Up 0.5%

NASDAQ ASND opened at $261.00 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.00. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 30.10 and a beta of 0.37. The company's 50-day simple moving average is $242.89 and its two-hundred day simple moving average is $232.02. Ascendis Pharma A/S has a one year low of $160.86 and a one year high of $282.15.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $285.45 million during the quarter, compared to the consensus estimate of $362.47 million. Equities analysts forecast that Ascendis Pharma A/S will post 4.63 EPS for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In other news, Director Jean Jacques Bienaime bought 400 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $237.80 per share, with a total value of $95,120.00. Following the completion of the transaction, the director directly owned 400 shares of the company's stock, valued at approximately $95,120. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Flemming Steen Jensen sold 19,460 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $238.49, for a total transaction of $4,641,015.40. The SEC filing for this sale provides additional information. Insiders own 40.00% of the company's stock.

Institutional Trading of Ascendis Pharma A/S

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in Ascendis Pharma A/S during the 3rd quarter worth $26,000. Arax Advisory Partners raised its stake in Ascendis Pharma A/S by 212.2% in the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company's stock valued at $33,000 after buying an additional 104 shares during the last quarter. Leonteq Securities AG purchased a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $36,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $42,000. Finally, Global Retirement Partners LLC boosted its holdings in Ascendis Pharma A/S by 111.9% in the fourth quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 113 shares in 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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