Ascendis Pharma A/S (NASDAQ:ASND) Upgraded to Strong-Buy at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Ascendis Pharma to “strong buy,” adding to a generally bullish analyst outlook. The stock has an average “Buy” rating and an average price target of $300.33.
• Ascendis opened at $259.62 with a $16.2 billion market capitalization, trading between a 52-week range of $186.05 and $282.15. Its latest quarterly revenue of $387.22 million exceeded expectations, although earnings per share of $1.03 fell short of the $1.71 consensus estimate.
• Insider and institutional activity has been supportive: a director purchased $492,660 worth of shares, while company insiders own 40% of the stock and several investment firms increased their holdings.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) was upgraded by BMO Capital Markets to a "strong-buy" rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Royal Bank Of Canada raised their target price 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, August 14th. Citigroup began coverage on shares of Ascendis Pharma A/S in a report on Monday, May 18th. They issued a "buy" rating and a $355.00 target price on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $333.00 price target on shares of Ascendis Pharma A/S in a research note on Thursday, August 13th. Finally, Oppenheimer restated an "outperform" rating on shares of Ascendis Pharma A/S in a research report on Tuesday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ascendis Pharma A/S has an average rating of "Buy" and an average price target of $300.33.

Ascendis Pharma A/S Stock Performance

NASDAQ ASND opened at $259.62 on Tuesday. The firm has a market cap of $16.20 billion, a P/E ratio of 20.14 and a beta of 0.39. Ascendis Pharma A/S has a 52-week low of $186.05 and a 52-week high of $282.15. The business's 50-day moving average price is $252.15 and its 200 day moving average price is $237.76. The company has a quick ratio of 2.32, a current ratio of 2.99 and a debt-to-equity ratio of 0.27.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The biotechnology company reported $1.03 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $376.75 million. On average, equities research analysts expect that Ascendis Pharma A/S will post 4.35 earnings per share for the current year.

Insider Transactions at Ascendis Pharma A/S

In related news, Director Jean Jacques Bienaime bought 2,000 shares of the company'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 completion of the acquisition, the director owned 2,900 shares in the company, valued at approximately $714,357. This represents a 222.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 2,500 shares of company stock valued at $609,680 over the last three months. Company insiders own 40.00% of the company's stock.

Hedge Funds Weigh In On Ascendis Pharma A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Ascendis Pharma A/S in the second quarter valued at $693,000. Braun Stacey Associates Inc. boosted its position in shares of Ascendis Pharma A/S by 1.3% in the 2nd quarter. Braun Stacey Associates Inc. now owns 132,682 shares of the biotechnology company's stock worth $35,389,000 after buying an additional 1,690 shares in the last quarter. Dearborn Partners LLC acquired a new stake in Ascendis Pharma A/S in the 2nd quarter valued at about $347,000. Public Employees Retirement System of Ohio grew its stake in Ascendis Pharma A/S by 245.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,977 shares of the biotechnology company's stock valued at $5,328,000 after acquiring an additional 14,193 shares during the last quarter. Finally, Seven Fleet Capital Management LP increased its holdings in Ascendis Pharma A/S by 114.8% during the 1st quarter. Seven Fleet Capital Management LP now owns 12,179 shares of the biotechnology company's stock valued at $2,786,000 after acquiring an additional 6,509 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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