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

Ascendis Pharma A/S (NASDAQ:ASND)’s share price gapped down prior to trading 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 changing hands.

Several other analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Ascendis Pharma A/S from $200.00 to $207.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on Ascendis Pharma A/S from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group boosted their price objective on Ascendis Pharma A/S from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. StockNews.com cut Ascendis Pharma A/S from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Citigroup upped their price objective on Ascendis Pharma A/S from $178.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.77.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Ascendis Pharma A/S by 13.2% in the 3rd quarter. Signaturefd LLC now owns 686 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 80 shares in the last quarter. Profund Advisors LLC boosted its stake in Ascendis Pharma A/S by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 2,919 shares of the biotechnology company’s stock valued at $398,000 after purchasing an additional 85 shares during the last quarter. Rhumbline Advisers boosted its stake in Ascendis Pharma A/S by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 1,533 shares of the biotechnology company’s stock valued at $209,000 after purchasing an additional 143 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Ascendis Pharma A/S by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 78,473 shares of the biotechnology company’s stock valued at $11,717,000 after purchasing an additional 228 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Ascendis Pharma A/S by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 8,212 shares of the biotechnology company’s stock valued at $1,226,000 after purchasing an additional 240 shares during the last quarter.

Ascendis Pharma A/S Trading Up 1.8 %

The firm has a 50 day simple moving average of $132.30 and a 200 day simple moving average of $132.66. The firm has a market capitalization of $7.67 billion, a PE ratio of -13.59 and a beta of 0.66.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Tuesday, September 3rd. The biotechnology company reported ($2.05) EPS 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 the consensus estimate of $94.74 million. Research 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.