Wedbush Reiterates “Outperform” Rating for Ascendis Pharma A/S (ASND)
Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report released on Friday. They presently have a $10.71 price target on the biotechnology company’s stock, down from their prior price target of $65.00. Wedbush’s price target would indicate a potential downside of 68.72% from the stock’s current price.
A number of other research firms have also commented on ASND. Credit Suisse Group set a $28.00 price target on Ascendis Pharma A/S and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Leerink Swann reaffirmed a “hold” rating and set a $28.00 price target on shares of Ascendis Pharma A/S in a research report on Friday, September 1st. BidaskClub lowered Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine raised Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a research report on Saturday, May 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.29.
Ascendis Pharma A/S (NASDAQ:ASND) opened at 34.24 on Friday. Ascendis Pharma A/S has a one year low of $17.15 and a one year high of $42.00.
Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings results on Friday, August 18th. The biotechnology company reported ($1.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.24). The business had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.78 million. Ascendis Pharma A/S had a negative return on equity of 67.76% and a negative net margin of 2,977.70%. The company’s revenue for the quarter was down 61.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.53) EPS. Equities research analysts anticipate that Ascendis Pharma A/S will post ($0.17) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in Ascendis Pharma A/S by 23.6% in the 1st quarter. Bank of America Corp DE now owns 5,345 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,020 shares during the last quarter. Alps Advisors Inc. raised its position in Ascendis Pharma A/S by 7.9% in the 2nd quarter. Alps Advisors Inc. now owns 29,264 shares of the biotechnology company’s stock valued at $812,000 after buying an additional 2,144 shares during the last quarter. Bank of Montreal Can raised its position in Ascendis Pharma A/S by 127.4% in the 2nd quarter. Bank of Montreal Can now owns 4,535 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 2,541 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Ascendis Pharma A/S in the 1st quarter valued at approximately $144,000. Finally, Karp Capital Management Corp acquired a new stake in Ascendis Pharma A/S in the 1st quarter valued at approximately $203,000. 71.60% of the stock is currently owned by institutional investors and hedge funds.
About Ascendis Pharma A/S
Ascendis Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in applying its TransCon technology to develop sustained release prodrug therapies with several product candidates in clinical and preclinical development. The Company is developing its product candidate, TransCon human growth hormone (TransCon hGH) for once-weekly administration to treat growth hormone deficiency (GHD) and other indications.
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