Ascendis Pharma A/S’s (ASND) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a research report report published on Tuesday,Benzinga reports. They currently have a $327.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on ASND. Royal Bank Of Canada increased their target price on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. HC Wainwright assumed coverage on shares of Ascendis Pharma A/S in a research note on Thursday, August 27th. They issued a “buy” rating and a $345.00 price target for the company. Wall Street Zen raised Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Ascendis Pharma A/S from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. Finally, UBS Group set a $345.00 target price on Ascendis Pharma A/S in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $310.05.

Ascendis Pharma A/S Stock Up 1.4%

Shares of NASDAQ:ASND opened at $271.12 on Tuesday. The firm has a market capitalization of $16.91 billion, a PE ratio of 21.03 and a beta of 0.35. Ascendis Pharma A/S has a 1 year low of $186.05 and a 1 year high of $282.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 2.32. The firm’s 50-day moving average is $257.65 and its two-hundred day moving average is $240.48.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings data on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.68). The business had revenue of $387.22 million during the quarter, compared to analysts’ expectations of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. Analysts predict that Ascendis Pharma A/S will post 5.99 EPS for the current year.

Insider Activity

In other Ascendis Pharma A/S news, Director Jean-Jacques Bienaimé acquired 2,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $246.33 per share, for a total transaction of $492,660.00. Following the acquisition, the director owned 2,900 shares in the company, valued at $714,357. The trade was a 222.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC acquired a new position in Ascendis Pharma A/S in the second quarter valued at approximately $166,367,000. Wellington Management Group LLP raised its holdings in Ascendis Pharma A/S by 95.9% during the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock worth $357,645,000 after purchasing an additional 880,836 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of Ascendis Pharma A/S by 200.0% during the 3rd quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company’s stock worth $119,286,000 after buying an additional 400,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Ascendis Pharma A/S by 29.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company’s stock worth $218,871,000 after buying an additional 232,730 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at $50,011,000.

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.