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

BMO Capital Markets upgraded shares of Ascendis Pharma A/S (NASDAQ:ASND) to a strong-buy rating in a research report released on Tuesday, MarketBeat reports.

A number of other equities analysts have also recently commented on ASND. TD Cowen lifted their price target on Ascendis Pharma A/S from $325.00 to $341.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Ascendis Pharma A/S in a research report on Tuesday, June 9th. Citigroup began coverage on shares of Ascendis Pharma A/S in a research report on Monday, May 18th. They issued a “buy” rating and a $355.00 price objective on the stock. Evercore restated an “outperform” rating and set a $329.00 target price on shares of Ascendis Pharma A/S in a research note on Friday, May 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $333.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Ascendis Pharma A/S has an average rating of “Buy” and a consensus target price of $300.33.

Ascendis Pharma A/S Price Performance

NASDAQ ASND opened at $259.62 on Tuesday. The company has a market capitalization of $16.20 billion, a PE ratio of 20.14 and a beta of 0.39. 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 has a 12-month low of $186.05 and a 12-month high of $282.15. The firm’s 50 day moving average is $252.15 and its 200-day moving average is $237.76.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Thursday, August 13th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.68). Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%.The firm had revenue of $387.22 million for the quarter, compared to the consensus estimate of $376.75 million. Equities research analysts anticipate that Ascendis Pharma A/S will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jean Jacques Bienaime purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $246.33 per share, for a total transaction of $492,660.00. Following the completion of the transaction, the director owned 2,900 shares of the company’s stock, valued at approximately $714,357. This trade represents a 222.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders acquired 2,500 shares of company stock worth $609,680. Corporate insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in shares of Ascendis Pharma A/S in the third quarter worth about $26,000. Arax Advisory Partners grew its position in shares of Ascendis Pharma A/S by 212.2% in the 4th 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 bought a new position in Ascendis Pharma A/S during the 4th quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd bought a new position in Ascendis Pharma A/S during the fourth quarter worth $42,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Ascendis Pharma A/S by 111.9% in the 4th quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 113 shares during the period.

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.