Ascendis Pharma A/S (ASND) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Ascendis Pharma A/S (NASDAQ:ASND) from a hold rating to a sell rating in a research note released on Wednesday morning.
According to Zacks, “Ascendis Pharma A/S is a biopharmaceutical company. The company’s product pipeline consist of TransCon Human Growth Hormone, TransCon Treprostinil, TransCon Insulin, TransCon Peptide and TransCon Ranibizumab, which are in different clinical stage, for the treatments of hormone deficiency, endocrinology, central nervous system disorders, infectious diseases and diabetes. Its technology includes TransCon which develop prodrug therapies. Ascendis Pharma A/S is based in Denmark. “
ASND has been the topic of several other research reports. Credit Suisse Group set a $28.00 price objective on shares of Ascendis Pharma A/S and gave the company a buy rating in a research report on Tuesday, July 18th. Wedbush reaffirmed an outperform rating and set a $34.00 price objective (down previously from $36.00) on shares of Ascendis Pharma A/S in a research report on Wednesday, May 24th. TheStreet lowered shares of Ascendis Pharma A/S from a c- rating to a d rating in a research report on Thursday, June 15th. Leerink Swann cut their price objective on shares of Ascendis Pharma A/S from $30.00 to $26.00 and set a market perform rating on the stock in a research report on Thursday, May 25th. Finally, ValuEngine raised shares of Ascendis Pharma A/S from a sell rating to a hold rating in a research report on Saturday, May 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $29.60.
Shares of Ascendis Pharma A/S (NASDAQ:ASND) opened at 27.83 on Wednesday. Ascendis Pharma A/S has a 1-year low of $17.15 and a 1-year high of $31.86.
Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Friday, August 18th. The biotechnology company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by $0.24. The company had revenue of $0.44 million during the quarter, compared to analysts’ expectations of $0.78 million. Ascendis Pharma A/S had a negative return on equity of 67.76% and a negative net margin of 2,977.70%. Ascendis Pharma A/S’s revenue for the quarter was down 61.4% compared to the same quarter last year. During the same period last year, the company earned ($0.53) earnings per share. Equities research analysts forecast that Ascendis Pharma A/S will post ($3.56) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. EcoR1 Capital LLC raised its position in shares of Ascendis Pharma A/S by 5.1% in the first quarter. EcoR1 Capital LLC now owns 1,025,700 shares of the biotechnology company’s stock valued at $28,720,000 after buying an additional 50,000 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Ascendis Pharma A/S during the first quarter valued at $144,000. Karp Capital Management Corp acquired a new position in shares of Ascendis Pharma A/S during the first quarter valued at $203,000. Eventide Asset Management LLC raised its position in shares of Ascendis Pharma A/S by 7.5% in the first quarter. Eventide Asset Management LLC now owns 246,100 shares of the biotechnology company’s stock valued at $6,891,000 after buying an additional 17,100 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Ascendis Pharma A/S during the first quarter valued at $5,022,000. 64.35% of the stock is currently owned by hedge funds and other institutional investors.
About Ascendis Pharma A/S
Ascendis Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in applying its TransCon technology to develop sustained release prodrug therapies with several product candidates in clinical and preclinical development. The Company is developing its product candidate, TransCon human growth hormone (TransCon hGH) for once-weekly administration to treat growth hormone deficiency (GHD) and other indications.
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