Ascendis Pharma A/S (NASDAQ:ASND) Shares Gap Down After Analyst Downgrade

Shares of Ascendis Pharma A/S (NASDAQ:ASND) gapped down before the market opened on Friday after TD Cowen lowered their price target on the stock from $160.00 to $153.00. The stock had previously closed at $124.28, but opened at $118.98. TD Cowen currently has a buy rating on the stock. Ascendis Pharma A/S shares last traded at $132.58, with a volume of 236,707 shares.

Several other analysts also recently weighed in on the stock. Citigroup lifted their target price on shares of Ascendis Pharma A/S from $178.00 to $207.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Wedbush reiterated an “outperform” rating and issued a $181.00 price objective on shares of Ascendis Pharma A/S in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Ascendis Pharma A/S from $180.00 to $174.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI increased their price objective on Ascendis Pharma A/S from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $170.00 target price on shares of Ascendis Pharma A/S in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.77.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ascendis Pharma A/S in the third quarter valued at $19,908,000. Public Employees Retirement System of Ohio acquired a new position in Ascendis Pharma A/S during the third quarter worth about $1,101,000. Groupama Asset Managment bought a new stake in Ascendis Pharma A/S in the third quarter worth about $60,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Ascendis Pharma A/S by 42.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 18,000 shares of the biotechnology company’s stock valued at $2,688,000 after purchasing an additional 5,371 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Ascendis Pharma A/S during the 3rd quarter valued at about $886,000.

Ascendis Pharma A/S Stock Performance

The company’s 50 day moving average price is $132.30 and its 200-day moving average price is $132.70. The company has a market cap of $7.67 billion, a price-to-earnings ratio of -13.59 and a beta of 0.66.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings results on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.51). The company had revenue of $38.75 million during the quarter, compared to analysts’ expectations of $94.74 million. As a group, sell-side analysts forecast that Ascendis Pharma A/S will post -7.35 earnings per share for the current year.

Ascendis Pharma A/S Company Profile

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.