Ascendis Pharma A/S (NASDAQ:ASND) Short Interest Up 13.9% in March

Ascendis Pharma A/S (NASDAQ:ASND) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,350,000 shares, a growth of 13.9% from the March 15th total of 2,940,000 shares. Based on an average daily volume of 375,400 shares, the days-to-cover ratio is currently 8.9 days.

Ascendis Pharma A/S Stock Down 0.6 %

Shares of ASND traded down $0.81 during midday trading on Monday, reaching $145.23. 379,111 shares of the stock were exchanged, compared to its average volume of 378,047. Ascendis Pharma A/S has a 12-month low of $66.03 and a 12-month high of $161.00. The firm has a 50 day simple moving average of $149.10 and a 200-day simple moving average of $123.28. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -15.70 and a beta of 0.50.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data on Wednesday, February 7th. The biotechnology company reported ($1.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.15) by $0.49. Ascendis Pharma A/S had a negative return on equity of 16,574.15% and a negative net margin of 180.61%. The business had revenue of $148.62 million for the quarter, compared to the consensus estimate of $97.02 million. Research analysts expect that Ascendis Pharma A/S will post -4.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Ascendis Pharma A/S from $165.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company raised their price objective on Ascendis Pharma A/S from $196.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Jefferies Financial Group assumed coverage on Ascendis Pharma A/S in a research report on Wednesday, December 20th. They set a “buy” rating and a $150.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $173.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, April 1st. Finally, Wedbush raised their price objective on Ascendis Pharma A/S from $207.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its stake in shares of Ascendis Pharma A/S by 35.2% in the 4th quarter. US Bancorp DE now owns 284 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Ascendis Pharma A/S by 37.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ascendis Pharma A/S by 52.0% in the 1st quarter. GAMMA Investing LLC now owns 298 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ascendis Pharma A/S by 3.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,226 shares of the biotechnology company’s stock valued at $333,000 after acquiring an additional 105 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Ascendis Pharma A/S by 7.2% in the 1st quarter. Guggenheim Capital LLC now owns 2,008 shares of the biotechnology company’s stock valued at $236,000 after acquiring an additional 135 shares in the last quarter.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.