Ascendis Pharma A/S (ASND) Receives “Buy” Rating from Wells Fargo & Company
Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “buy” rating reaffirmed by equities researchers at Wells Fargo & Company in a research note issued on Friday. They currently have a $51.00 target price on the biotechnology company’s stock. Wells Fargo & Company’s price target points to a potential upside of 48.95% from the stock’s current price.
ASND has been the topic of several other reports. Credit Suisse Group set a $28.00 target price on Ascendis Pharma A/S and gave the stock a “buy” rating in a report on Tuesday, July 18th. Leerink Swann reaffirmed a “hold” rating and issued a $28.00 target price on shares of Ascendis Pharma A/S in a report on Friday, September 1st. TheStreet cut Ascendis Pharma A/S from a “c-” rating to a “d” rating in a report on Thursday, June 15th. ValuEngine raised Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Finally, Zacks Investment Research cut Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.29.
Ascendis Pharma A/S (ASND) traded up 23.43% during trading on Friday, hitting $34.24. The stock had a trading volume of 3,022,789 shares. Ascendis Pharma A/S has a 52-week low of $17.15 and a 52-week high of $42.00.
Ascendis Pharma A/S (NASDAQ:ASND) last issued its 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). Ascendis Pharma A/S had a negative return on equity of 67.76% and a negative net margin of 2,977.70%. The firm had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.78 million. During the same period last year, the firm posted ($0.53) earnings per share. The company’s revenue for the quarter was down 61.4% compared to the same quarter last year. Equities analysts expect that Ascendis Pharma A/S will post ($0.17) EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of ASND. Karp Capital Management Corp bought a new stake in Ascendis Pharma A/S during the first quarter worth approximately $203,000. Victory Capital Management Inc. bought a new stake in Ascendis Pharma A/S during the first quarter worth approximately $144,000. OppenheimerFunds Inc. bought a new stake in Ascendis Pharma A/S during the first quarter worth approximately $8,334,000. FMR LLC increased its stake in Ascendis Pharma A/S by 2.7% during the first quarter. FMR LLC now owns 3,238,720 shares of the biotechnology company’s stock worth $90,685,000 after acquiring an additional 86,188 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Ascendis Pharma A/S during the first quarter worth approximately $5,022,000. 71.60% of the stock is currently owned by institutional investors.
Ascendis Pharma A/S Company Profile
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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