Ascendis Pharma A/S (ASND) Receives Buy Rating from Bank of America Corporation
Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “buy” rating reaffirmed by equities research analysts at Bank of America Corporation in a research report issued on Monday. They currently have a $36.00 price objective on the biotechnology company’s stock, up from their previous price objective of $34.00. Bank of America Corporation’s price objective would suggest a potential upside of 5.14% from the stock’s previous close.
Other 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 research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Wedbush reissued an “outperform” rating and issued a $10.71 price objective (down previously from $65.00) on shares of Ascendis Pharma A/S in a research note on Friday. TheStreet lowered shares of Ascendis Pharma A/S from a “c-” rating to a “d” rating in a research note on Thursday, June 15th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $50.00 price objective (up previously from $30.00) on shares of Ascendis Pharma A/S in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.67.
Ascendis Pharma A/S (ASND) traded up 8.06% during midday trading on Monday, reaching $37.00. 246,147 shares of the company’s stock traded hands. Ascendis Pharma A/S has a 1-year low of $17.15 and a 1-year high of $42.00.
Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Friday, August 18th. The biotechnology company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.24). The company had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $0.78 million. Ascendis Pharma A/S had a negative return on equity of 67.76% and a negative net margin of 2,977.70%. The company’s quarterly revenue was down 61.4% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS. Equities analysts anticipate that Ascendis Pharma A/S will post ($0.12) EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Ascendis Pharma A/S by 23.6% in the first 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 during the period. Alps Advisors Inc. boosted its stake in shares of Ascendis Pharma A/S by 7.9% in the second 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 during the period. Bank of Montreal Can boosted its stake in shares of Ascendis Pharma A/S by 127.4% in the second 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 during the period. Victory Capital Management Inc. purchased a new position in shares of Ascendis Pharma A/S in the first quarter valued at approximately $144,000. Finally, Karp Capital Management Corp purchased a new position in shares of Ascendis Pharma A/S in the first quarter valued at approximately $203,000. 71.60% of the stock is owned by institutional investors and hedge funds.
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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