Ascendis Pharma A/S (NASDAQ:ASND) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They presently have a $300.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 32.98% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. HC Wainwright set a $344.00 price objective on shares of Ascendis Pharma A/S in a research report on Thursday, September 10th. UBS Group reissued a “buy” rating and set a $344.00 price objective on shares of Ascendis Pharma A/S in a research note on Wednesday, September 16th. Bank of America lowered their target price on shares of Ascendis Pharma A/S from $306.00 to $304.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Finally, Morgan Stanley cut their price target on Ascendis Pharma A/S from $275.00 to $273.00 and set an “overweight” rating for the company in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Ascendis Pharma A/S presently has an average rating of “Buy” and an average price target of $310.75.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock opened at $225.60 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 2.32. Ascendis Pharma A/S has a 1-year low of $186.05 and a 1-year high of $282.15. The company has a market cap of $14.07 billion, a PE ratio of 17.50 and a beta of 0.35. The stock’s 50 day moving average price is $251.52 and its 200 day moving average price is $242.29.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Friday, August 14th. The biotechnology company reported $1.03 earnings per share (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 return on equity of 32.54% and a net margin of 70.99%. On average, sell-side analysts predict that Ascendis Pharma A/S will post 3.69 EPS for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In related news, SVP Mads Bodenhoff sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $270.19, for a total transaction of $810,570.00. Following the completion of the sale, the senior vice president directly owned 3,000 shares of the company’s stock, valued at approximately $810,570. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean-Jacques Bienaimé acquired 2,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $246.33 per share, with a total value of $492,660.00. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at $714,357. The trade was a 222.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 40.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Ascendis Pharma A/S during the fourth quarter worth about $42,000. Allworth Financial LP boosted its holdings in shares of Ascendis Pharma A/S by 103.4% during the second quarter. Allworth Financial LP now owns 240 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 122 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Ascendis Pharma A/S by 34.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 272 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 69 shares during the period. Parallel Advisors LLC lifted its position in Ascendis Pharma A/S by 94.9% in the 1st quarter. Parallel Advisors LLC now owns 304 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 148 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Ascendis Pharma A/S by 3,491.7% in the 2nd quarter. IFP Advisors Inc now owns 431 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 419 shares during the last quarter.

About Ascendis Pharma A/S

Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases. The company uses its proprietary TransCon technology platform to design long-acting medicines intended to improve the effectiveness, convenience, and tolerability of established treatments.

Ascendis’ marketed products include Skytrofa (lonapegsomatropin-tcgd), a long-acting growth hormone approved for the treatment of growth hormone deficiency in children, and Yorvipath (palopegteriparatide), a hormone replacement therapy for adults with hypoparathyroidism.