Ascendis Pharma A/S (NASDAQ:ASND) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $133.00 price objective on the biotechnology company's stock. Zacks Investment Research's target price suggests a potential upside of 8.72% from the company's previous close.
According to Zacks, "Ascendis Pharma A/S is a biopharmaceutical company. The company's product pipeline consist of TransCon Human Growth Hormone, TransCon Treprostinil, TransCon Insulin, TransCon Peptide and TransCon Ranibizumab, which are in different clinical stage, for the treatments of hormone deficiency, endocrinology, central nervous system disorders, infectious diseases and diabetes. Its technology includes TransCon which develop prodrug therapies. Ascendis Pharma A/S is based in Denmark. "
A number of other brokerages have also recently commented on ASND. SVB Leerink raised their target price on Ascendis Pharma A/S from $182.00 to $190.00 and gave the company an "outperform" rating in a report on Monday, November 15th. Wedbush lowered their target price on Ascendis Pharma A/S from $191.00 to $186.00 in a report on Thursday. Cantor Fitzgerald restated an "overweight" rating on shares of Ascendis Pharma A/S in a report on Thursday, November 18th. Cowen assumed coverage on Ascendis Pharma A/S in a report on Thursday, January 6th. They set a "market perform" rating for the company. Finally, Credit Suisse Group lowered their target price on Ascendis Pharma A/S from $185.00 to $179.00 and set an "outperform" rating for the company in a report on Thursday, November 11th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $178.67.
Shares of ASND traded up $3.28 during midday trading on Friday, reaching $122.33. The company had a trading volume of 10,422 shares, compared to its average volume of 199,476. Ascendis Pharma A/S has a 1-year low of $109.36 and a 1-year high of $178.71. The stock has a market cap of $6.96 billion, a PE ratio of -13.21 and a beta of 0.72. The firm has a 50 day simple moving average of $139.76 and a 200-day simple moving average of $141.50.
Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Tuesday, November 9th. The biotechnology company reported ($1.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.60) by $1.13. The business had revenue of $1.31 million during the quarter, compared to the consensus estimate of $1.60 million. Ascendis Pharma A/S had a negative return on equity of 50.72% and a negative net margin of 12,211.21%. During the same period last year, the company earned ($2.70) EPS. On average, sell-side analysts predict that Ascendis Pharma A/S will post -8.43 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new position in Ascendis Pharma A/S during the second quarter worth $249,945,000. Artisan Partners Limited Partnership grew its holdings in Ascendis Pharma A/S by 21.1% during the third quarter. Artisan Partners Limited Partnership now owns 7,784,860 shares of the biotechnology company's stock worth $1,240,829,000 after acquiring an additional 1,355,453 shares during the period. RA Capital Management L.P. grew its holdings in Ascendis Pharma A/S by 8.5% during the third quarter. RA Capital Management L.P. now owns 7,387,900 shares of the biotechnology company's stock worth $1,177,557,000 after acquiring an additional 581,559 shares during the period. Wellington Management Group LLP grew its holdings in Ascendis Pharma A/S by 14.9% during the third quarter. Wellington Management Group LLP now owns 3,945,244 shares of the biotechnology company's stock worth $628,832,000 after acquiring an additional 510,971 shares during the period. Finally, Invesco Ltd. grew its holdings in Ascendis Pharma A/S by 57.8% during the second quarter. Invesco Ltd. now owns 1,159,024 shares of the biotechnology company's stock worth $152,469,000 after acquiring an additional 424,732 shares during the period.
Ascendis Pharma A/S Company Profile
Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. It specializes on its TransCon technologies to create prodrugs that provide for the predictable and sustained release of an unmodified parent drug. The company was founded by Jan Moller Mikkelsen, Dirk Vetter, and Harald Rau in September 2006 and is headquartered in Hellerup, Denmark.
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