Ascendis Pharma A/S (NASDAQ:ASND) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Ascendis Pharma A/S is a biopharmaceutical company. The company’s product pipeline consist of TransCon Human Growth Hormone, TransCon Treprostinil, TransCon Insulin, TransCon Peptide and TransCon Ranibizumab, which are in different clinical stage, for the treatments of hormone deficiency, endocrinology, central nervous system disorders, infectious diseases and diabetes. Its technology includes TransCon which develop prodrug therapies. Ascendis Pharma A/S is based in Denmark. “
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co began coverage on shares of Ascendis Pharma A/S in a report on Thursday, May 11th. They set an “overweight” rating and a $36.00 target price on the stock. ValuEngine upgraded shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Leerink Swann dropped their target price 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 report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.60.
Shares of Ascendis Pharma A/S (ASND) traded up 1.10% during mid-day trading on Wednesday, reaching $27.65. 36,541 shares of the company were exchanged. The firm’s market cap is $898.68 million. Ascendis Pharma A/S has a 12 month low of $17.15 and a 12 month high of $31.86.
Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Friday, August 18th. The biotechnology company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.80) by $0.24. The company had revenue of $0.44 million for the quarter, compared to analyst estimates of $0.78 million. Ascendis Pharma A/S had a negative return on equity of 66.76% and a negative net margin of 2,977.70%. The business’s quarterly revenue was down 61.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) earnings per share. On average, equities research analysts forecast that Ascendis Pharma A/S will post ($3.56) earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased 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 buying an additional 1,020 shares during the period. Alps Advisors Inc. increased its stake in 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 worth $812,000 after buying an additional 2,144 shares during the period. Bank of Montreal Can increased its stake in 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 worth $126,000 after buying an additional 2,541 shares during the period. Victory Capital Management Inc. acquired a new stake in Ascendis Pharma A/S during the first quarter worth about $144,000. Finally, Karp Capital Management Corp acquired a new stake in Ascendis Pharma A/S during the first quarter worth about $203,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.
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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