Ascendis Pharma A/S (ASND) Earns Outperform Rating from Wedbush
Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report released on Friday, The Fly reports. They currently have a $10.71 price objective on the biotechnology company’s stock, down from their prior price objective of $65.00. Wedbush’s price target suggests a potential downside of 61.39% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine raised shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Leerink Swann lowered their price target on shares of Ascendis Pharma A/S from $30.00 to $26.00 and set a “market perform” rating on the stock in a report on Thursday, May 25th. Finally, TheStreet downgraded shares of Ascendis Pharma A/S from a “c-” rating to a “d” rating in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Ascendis Pharma A/S currently has a consensus rating of “Hold” and an average price target of $25.34.
Ascendis Pharma A/S (NASDAQ:ASND) opened at 27.74 on Friday. Ascendis Pharma A/S has a 52-week low of $17.15 and a 52-week high of $30.57.
Ascendis Pharma A/S (NASDAQ:ASND) last announced its quarterly earnings results on Friday, August 18th. The biotechnology company reported ($1.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.24). The business had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.78 million. Ascendis Pharma A/S had a negative net margin of 2,977.70% and a negative return on equity of 67.76%. The company’s quarterly revenue was down 61.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) EPS. On average, equities analysts predict that Ascendis Pharma A/S will post ($0.17) EPS for the current year.
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Several large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 1,020 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of 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 purchasing an additional 2,144 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of 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 purchasing an additional 2,541 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Ascendis Pharma A/S in the 1st quarter valued at $144,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Ascendis Pharma A/S in the 1st quarter valued at $203,000. Institutional investors own 71.60% of the company’s stock.
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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