Cantor Fitzgerald Reaffirms “Overweight” Rating for Ascendis Pharma A/S (NASDAQ:ASND)

Ascendis Pharma A/S (NASDAQ:ASND)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $300.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 31.98% from the stock’s previous close.

A number of other equities analysts have also issued reports on ASND. Barclays dropped their target price on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Weiss Ratings raised shares of Ascendis Pharma A/S from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Stifel Nicolaus dropped their target price on shares of Ascendis Pharma A/S from $328.00 to $326.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. HC Wainwright set a $344.00 target price on shares of Ascendis Pharma A/S in a research report on Thursday, September 10th. Finally, Raymond James Financial downgraded shares of Ascendis Pharma A/S from a “strong-buy” rating to an “outperform” rating and set a $287.00 price target on the stock. in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $310.75.

Ascendis Pharma A/S Stock Performance

ASND stock traded down $0.52 on Friday, reaching $227.31. 805,894 shares of the company were exchanged, compared to its average volume of 700,373. Ascendis Pharma A/S has a 12 month low of $186.05 and a 12 month high of $282.15. The stock’s fifty day moving average price is $250.06 and its 200 day moving average price is $242.21. The firm has a market capitalization of $14.18 billion, a PE ratio of 17.63 and a beta of 0.35. 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 (NASDAQ:ASND) last announced its earnings results on Friday, August 14th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.68). Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%.The company had revenue of $387.22 million for the quarter, compared to the consensus estimate of $376.75 million. On average, research analysts anticipate that Ascendis Pharma A/S will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling at Ascendis Pharma A/S

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

Institutional Investors Weigh In On Ascendis Pharma A/S

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in Ascendis Pharma A/S during the 2nd quarter worth about $380,000. IFP Advisors Inc lifted its position in Ascendis Pharma A/S by 3,491.7% during the 2nd quarter. IFP Advisors Inc now owns 431 shares of the biotechnology company’s stock worth $115,000 after buying an additional 419 shares in the last quarter. Squarepoint Ops LLC lifted its position in Ascendis Pharma A/S by 1,714.3% during the 2nd quarter. Squarepoint Ops LLC now owns 9,686 shares of the biotechnology company’s stock worth $2,583,000 after buying an additional 10,286 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Ascendis Pharma A/S during the 2nd quarter worth about $2,863,000. Finally, Allworth Financial LP lifted its position in Ascendis Pharma A/S by 103.4% during the 2nd quarter. Allworth Financial LP now owns 240 shares of the biotechnology company’s stock worth $64,000 after buying an additional 122 shares in the last quarter.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a biopharmaceutical company focused on developing therapies for rare diseases, particularly in endocrinology. The company uses its proprietary TransCon technology platform to design medicines intended to provide sustained release of therapeutic compounds and potentially improve treatment convenience and patient outcomes.

Ascendis Pharma’s marketed products include Skytrofa (lonapegsomatropin-tcgb), a once-weekly growth hormone treatment for children with growth hormone deficiency, and Yorvipath (palopegteriparatide), a parathyroid hormone replacement therapy for adults with hypoparathyroidism.