Ascendis Pharma A/S (NASDAQ:ASND) Price Target Cut to $335.00 by Analysts at HC Wainwright

Ascendis Pharma A/S (NASDAQ:ASND) had its price target cut by research analysts at HC Wainwright from $344.00 to $335.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright‘s price target suggests a potential upside of 25.44% from the stock’s previous close.

ASND has been the topic of several other research reports. UBS Group assumed coverage on Ascendis Pharma A/S in a research note on Thursday, October 15th. They set a “buy” rating and a $269.00 target price on the stock. Bank of America reduced their price target on shares of Ascendis Pharma A/S from $306.00 to $304.00 and set a “buy” rating for the company in a research report on Monday, August 31st. Barclays reduced their price target on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Citigroup decreased their price target on shares of Ascendis Pharma A/S from $360.00 to $330.00 and set a “buy” rating for the company in a report on Monday, October 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Ascendis Pharma A/S from $333.00 to $330.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. Nineteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.50.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock opened at $267.07 on Friday. Ascendis Pharma A/S has a 1-year low of $188.07 and a 1-year high of $282.15. The company has a current ratio of 2.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.72 and a beta of 0.40. The stock’s fifty day simple moving average is $242.58 and its 200-day simple moving average is $239.65.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Friday, August 14th. The biotechnology company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.68). The business had revenue of $387.22 million for the quarter, compared to analyst estimates of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. On average, sell-side analysts predict that Ascendis Pharma A/S will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Ascendis Pharma A/S

In other news, SVP Mads Bodenhoff sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $270.19, for a total transaction of $810,570.00. Following the completion of the sale, the senior vice president owned 3,000 shares in the company, valued at approximately $810,570. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 40.00% of the stock is owned by corporate insiders.

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 stock. Perceptive Advisors LLC increased its stake in shares of Ascendis Pharma A/S by 41.6% in the first quarter. Perceptive Advisors LLC now owns 1,531,421 shares of the biotechnology company’s stock worth $350,282,000 after purchasing an additional 450,000 shares during the period. Sei Investments Co. increased its holdings in Ascendis Pharma A/S by 24.8% in the 1st quarter. Sei Investments Co. now owns 351,146 shares of the biotechnology company’s stock valued at $80,318,000 after buying an additional 69,673 shares during the period. Frazier Life Sciences Management L.P. raised its stake in shares of Ascendis Pharma A/S by 68.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 225,155 shares of the biotechnology company’s stock valued at $60,053,000 after buying an additional 91,822 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Ascendis Pharma A/S by 27.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 227,013 shares of the biotechnology company’s stock valued at $51,602,000 after buying an additional 48,275 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in shares of Ascendis Pharma A/S by 5.8% during the 1st quarter. Orbimed Advisors LLC now owns 181,977 shares of the biotechnology company’s stock worth $41,624,000 after acquiring an additional 10,000 shares during the period.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a biopharmaceutical company headquartered in Denmark that develops medicines for rare diseases, with a focus on endocrinology. Founded in 2006, the company uses its TransCon technology platform to design therapies intended to provide sustained delivery of medicines. Its commercial products include SKYTROFA (lonapegsomatropin), a once-weekly growth hormone treatment for children with growth hormone deficiency, and YORVIPATH (palopegteriparatide), a treatment for adults with hypoparathyroidism.