Ascendis Pharma A/S (NASDAQ:ASND) Reaches New 52-Week Low After Analyst Downgrade

Ascendis Pharma A/S (NASDAQ:ASND) shares hit a new 52-week low during mid-day trading on Thursday after SVB Leerink lowered their price target on the stock from $181.00 to $178.00. SVB Leerink currently has an outperform rating on the stock. Ascendis Pharma A/S traded as low as $117.71 and last traded at $117.71, with a volume of 7053 shares traded. The stock had previously closed at $122.00.

A number of other equities research analysts also recently commented on ASND. Credit Suisse Group increased their price objective on shares of Ascendis Pharma A/S from $176.00 to $178.00 and gave the company an “outperform” rating in a research report on Friday, May 28th. Wedbush lowered their target price on shares of Ascendis Pharma A/S from $219.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, June 14th. Zacks Investment Research upgraded shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a research note on Wednesday, June 2nd. Oppenheimer restated a “hold” rating on shares of Ascendis Pharma A/S in a research note on Thursday, July 8th. Finally, Canaccord Genuity boosted their price objective on Ascendis Pharma A/S from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Tuesday, June 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $192.00.

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Ascendis Pharma A/S by 26.1% during the 1st quarter. Signaturefd LLC now owns 357 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 74 shares in the last quarter. ShoreHaven Wealth Partners LLC boosted its holdings in Ascendis Pharma A/S by 37.0% in the first quarter. ShoreHaven Wealth Partners LLC now owns 752 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 203 shares during the period. US Bancorp DE increased its stake in Ascendis Pharma A/S by 23.1% during the first quarter. US Bancorp DE now owns 816 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 153 shares during the last quarter. Private Ocean LLC acquired a new position in Ascendis Pharma A/S in the first quarter valued at approximately $124,000. Finally, FORA Capital LLC bought a new position in shares of Ascendis Pharma A/S during the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

The stock’s 50-day moving average price is $132.07. The stock has a market cap of $6.33 billion, a PE ratio of -12.94 and a beta of 0.75.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Wednesday, May 26th. The biotechnology company reported ($1.17) earnings per share for the quarter, beating the consensus estimate of ($2.06) by $0.89. Ascendis Pharma A/S had a negative return on equity of 54.80% and a negative net margin of 7,700.88%. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $1.94 million. As a group, research analysts forecast that Ascendis Pharma A/S will post -9.2 EPS for the current year.

About Ascendis Pharma A/S (NASDAQ:ASND)

Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. It specializes on its TransCon technologies to create prodrugs that provide for the predictable and sustained release of an unmodified parent drug. The company was founded by Jan Moller Mikkelsen, Dirk Vetter, and Harald Rau in September 2006 and is headquartered in Hellerup, Denmark.

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