Wedbush Cuts Ascendis Pharma A/S (NASDAQ:ASND) Price Target to $186.00

Ascendis Pharma A/S (NASDAQ:ASND) had its target price reduced by equities researchers at Wedbush from $191.00 to $186.00 in a report released on Thursday, The Fly reports. Wedbush’s target price would indicate a potential upside of 51.27% from the company’s previous close.

ASND has been the subject of several other research reports. Wells Fargo & Company began coverage on Ascendis Pharma A/S in a report on Wednesday, December 8th. They issued an “overweight” rating and a $176.00 price target for the company. Bank of America cut Ascendis Pharma A/S from a “buy” rating to a “neutral” rating and lifted their price target for the company from $164.00 to $169.00 in a research report on Wednesday, October 20th. SVB Leerink raised their price objective 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. Cowen began coverage on Ascendis Pharma A/S in a report on Thursday, January 6th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ascendis Pharma A/S in a research note on Thursday, November 18th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Ascendis Pharma A/S has an average rating of “Buy” and an average price target of $178.67.

ASND opened at $122.96 on Thursday. Ascendis Pharma A/S has a 12-month low of $109.36 and a 12-month high of $178.71. The business’s fifty day simple moving average is $139.01 and its 200-day simple moving average is $141.40. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -13.22 and a beta of 0.72.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly 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. Ascendis Pharma A/S had a negative return on equity of 50.72% and a negative net margin of 12,211.21%. The business had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.60 million. During the same quarter in the prior year, the company earned ($2.70) EPS. On average, equities analysts forecast that Ascendis Pharma A/S will post -8.43 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Ascendis Pharma A/S by 51.2% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 195 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 66 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in Ascendis Pharma A/S by 3.7% in the second quarter. Prospera Financial Services Inc now owns 2,367 shares of the biotechnology company’s stock valued at $311,000 after acquiring an additional 85 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Ascendis Pharma A/S by 5.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,482 shares of the biotechnology company’s stock valued at $396,000 after acquiring an additional 128 shares during the last quarter. Profund Advisors LLC boosted its holdings in Ascendis Pharma A/S by 4.4% in the third quarter. Profund Advisors LLC now owns 3,124 shares of the biotechnology company’s stock valued at $498,000 after acquiring an additional 133 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Ascendis Pharma A/S by 22.0% in the third quarter. US Bancorp DE now owns 919 shares of the biotechnology company’s stock valued at $146,000 after acquiring an additional 166 shares during the last quarter.

About Ascendis Pharma A/S

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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