Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Down 7.6% – Time to Sell?

Ascendis Pharma A/S (NASDAQ:ASND) shares were down 7.6% on Friday . The stock traded as low as $218.08 and last traded at $219.44. Approximately 503,519 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 680,507 shares. The stock had previously closed at $237.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASND shares. Jefferies Financial Group started coverage on shares of Ascendis Pharma A/S in a research report on Monday, March 16th. They issued a “buy” rating and a $290.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Wolfe Research reaffirmed an “outperform” rating and set a $260.00 price target on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Stifel Nicolaus set a $332.00 price target on shares of Ascendis Pharma A/S in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $255.00 price target on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $295.39.

Ascendis Pharma A/S Trading Down 5.6%

The firm has a market capitalization of $13.98 billion, a P/E ratio of 25.85 and a beta of 0.41. The business’s 50-day moving average is $233.52 and its 200 day moving average is $223.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.00 and a quick ratio of 0.72.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Ascendis Pharma A/S will post 11.73 EPS for the current fiscal year.

Insider Transactions at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction dated Monday, May 11th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime acquired 400 shares of Ascendis Pharma A/S stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $237.80 per share, for a total transaction of $95,120.00. Following the completion of the purchase, the director directly owned 400 shares of the company’s stock, valued at approximately $95,120. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ascendis Pharma A/S

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Ascendis Pharma A/S during the third quarter worth about $26,000. Arax Advisory Partners grew its stake in Ascendis Pharma A/S by 212.2% during the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock worth $33,000 after buying an additional 104 shares in the last quarter. Leonteq Securities AG acquired a new stake in Ascendis Pharma A/S during the fourth quarter worth about $36,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ascendis Pharma A/S during the fourth quarter worth about $42,000. Finally, Jones Financial Companies Lllp grew its stake in Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after buying an additional 83 shares in the last quarter.

About Ascendis Pharma A/S

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.