Ascendis Pharma A/S (NASDAQ:ASND) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ascendis Pharma from “hold” to “buy,” while analysts maintain a consensus “Buy” rating and an average price target of $299.24.
• Ascendis shares opened at $248.50, up 0.9%, with a market capitalization of approximately $15.5 billion; the stock has traded between $186.05 and $282.15 over the past year.
• The company reported quarterly revenue of $387.22 million, exceeding expectations, but earnings of $1.03 per share fell short of the $1.71 consensus estimate. Insiders own approximately 40% of the company, and several institutional investors recently increased their positions.

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

A number of other equities research analysts have also recently weighed in on the company. Citigroup initiated coverage on Ascendis Pharma A/S in a research note on Monday, May 18th. They issued a "buy" rating and a $355.00 price objective for the company. TD Cowen raised their target price on Ascendis Pharma A/S from $325.00 to $341.00 and gave the company a "buy" rating in a report on Friday. Barclays dropped their target price on Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating for the company in a research report on Friday. Royal Bank Of Canada boosted their price target on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Oppenheimer reissued an "outperform" rating on shares of Ascendis Pharma A/S in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $299.24.

Ascendis Pharma A/S Stock Up 0.9%

Ascendis Pharma A/S stock opened at $248.50 on Friday. Ascendis Pharma A/S has a fifty-two week low of $186.05 and a fifty-two week high of $282.15. 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 firm has a 50 day moving average price of $249.60 and a 200 day moving average price of $237.24. The company has a market capitalization of $15.50 billion, a PE ratio of 19.28 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its earnings results on Thursday, August 13th. 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 246.61%. The firm had revenue of $387.22 million during the quarter, compared to analysts' expectations of $376.75 million. Research analysts expect that Ascendis Pharma A/S will post 4.49 earnings per share for the current year.

Insider Activity

In related 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 purchased at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at approximately $95,120. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 40.00% of the company's stock.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several large investors have recently bought and sold shares of ASND. Cetera Investment Advisers purchased a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $552,000. Rhumbline Advisers increased its stake in shares of Ascendis Pharma A/S by 4.0% during the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock worth $249,000 after buying an additional 55 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Ascendis Pharma A/S by 66.2% during the second quarter. Daiwa Securities Group Inc. now owns 3,737 shares of the biotechnology company's stock worth $645,000 after buying an additional 1,488 shares during the period. Qube Research & Technologies Ltd raised its holdings in Ascendis Pharma A/S by 83.4% in the second quarter. Qube Research & Technologies Ltd now owns 201,044 shares of the biotechnology company's stock valued at $34,700,000 after acquiring an additional 91,412 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Ascendis Pharma A/S in the second quarter valued at approximately $897,000.

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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