Ascendis Pharma A/S (NASDAQ:ASND – Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 1,721,179 shares, a drop of 39.2% from the April 30th total of 2,832,689 shares. Currently, 4.6% of the company’s shares are sold short. Based on an average daily trading volume, of 623,378 shares, the days-to-cover ratio is presently 2.8 days.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wall Street Zen upgraded shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating and issued a $329.00 price target on shares of Ascendis Pharma A/S in a research note on Friday, May 15th. Jefferies Financial Group assumed coverage on shares of Ascendis Pharma A/S in a report on Monday, March 16th. They issued a “buy” rating and a $290.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $295.39.
Get Our Latest Stock Report on ASND
Ascendis Pharma A/S Stock Up 0.8%
Ascendis Pharma A/S (NASDAQ:ASND – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $285.45 million for the quarter, compared to the consensus estimate of $362.47 million. As a group, sell-side analysts anticipate that Ascendis Pharma A/S will post 11.72 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Flemming Steen Jensen sold 19,460 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $238.49, for a total transaction of $4,641,015.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jean Jacques Bienaime purchased 400 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $237.80 per share, for a total transaction of $95,120.00. Following the acquisition, the director owned 400 shares of the company’s stock, valued at $95,120. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 40.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC grew its stake in shares of Ascendis Pharma A/S by 2.6% in the third quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company’s stock worth $1,015,919,000 after acquiring an additional 130,000 shares during the last quarter. Capital International Investors grew its position in Ascendis Pharma A/S by 0.4% during the 3rd quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company’s stock valued at $608,481,000 after purchasing an additional 13,685 shares during the last quarter. Wellington Management Group LLP increased its stake in Ascendis Pharma A/S by 95.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock valued at $357,645,000 after purchasing an additional 880,836 shares in the last quarter. Perceptive Advisors LLC raised its holdings in 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 buying an additional 450,000 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Ascendis Pharma A/S by 29.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company’s stock worth $218,871,000 after buying an additional 232,730 shares in the last quarter.
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.
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