Ascendis Pharma A/S (NASDAQ:ASND – Get Free Report)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They presently have a $300.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 31.07% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Oppenheimer raised their price objective on shares of Ascendis Pharma A/S from $304.00 to $312.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Raymond James Financial cut shares of Ascendis Pharma A/S from a “strong-buy” rating to an “outperform” rating and set a $287.00 price target on the stock. in a research note on Tuesday, September 15th. Stifel Nicolaus dropped their price target on shares of Ascendis Pharma A/S from $328.00 to $326.00 and set a “buy” rating on the stock in a research note on Monday, August 31st. TD Cowen reiterated a “buy” rating on shares of Ascendis Pharma A/S in a research report on Thursday, September 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Ascendis Pharma A/S in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Ascendis Pharma A/S presently has an average rating of “Buy” and a consensus target price of $310.75.
Read Our Latest Stock Report on ASND
Ascendis Pharma A/S Stock Performance
Ascendis Pharma A/S (NASDAQ:ASND – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.68). The firm had revenue of $387.22 million for the quarter, compared to analyst estimates of $376.75 million. Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%. As a group, analysts anticipate that Ascendis Pharma A/S will post 3.69 EPS for the current fiscal year.
Insider Activity
In other news, SVP Mads Bodenhoff sold 3,000 shares of Ascendis Pharma A/S stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $270.19, for a total value of $810,570.00. Following the sale, the senior vice president owned 3,000 shares in the company, valued at $810,570. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jean-Jacques Bienaimé bought 2,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $246.33 per share, for a total transaction of $492,660.00. Following 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. Additional details regarding this purchase are available in the official SEC disclosure. 40.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ascendis Pharma A/S
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its stake in Ascendis Pharma A/S by 57.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,701 shares of the biotechnology company’s stock worth $9,319,000 after purchasing an additional 15,950 shares during the last quarter. Candriam S.C.A. boosted its stake in Ascendis Pharma A/S by 23.2% during the 1st quarter. Candriam S.C.A. now owns 230,278 shares of the biotechnology company’s stock worth $52,671,000 after purchasing an additional 43,338 shares during the last quarter. Orbimed Advisors LLC raised 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. Frazier Life Sciences Management L.P. raised its holdings in shares of Ascendis Pharma A/S by 68.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 225,155 shares of the biotechnology company’s stock worth $60,053,000 after acquiring an additional 91,822 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Ascendis Pharma A/S by 154.6% during the 1st quarter. First Trust Advisors LP now owns 31,135 shares of the biotechnology company’s stock worth $7,122,000 after acquiring an additional 18,905 shares during the period.
About Ascendis Pharma A/S
Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases. The company uses its proprietary TransCon technology platform to design long-acting medicines intended to improve the effectiveness, convenience, and tolerability of established treatments.
Ascendis’ marketed products include Skytrofa (lonapegsomatropin-tcgd), a long-acting growth hormone approved for the treatment of growth hormone deficiency in children, and Yorvipath (palopegteriparatide), a hormone replacement therapy for adults with hypoparathyroidism.
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