Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 4.2% – Here’s Why

Ascendis Pharma A/S (NASDAQ:ASND)’s stock price dropped 4.2% on Tuesday . The stock traded as low as $198.16 and last traded at $198.4740. Approximately 116,561 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 487,657 shares. The stock had previously closed at $207.12.

Analysts Set New Price Targets

Several research analysts recently issued reports on ASND shares. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Ascendis Pharma A/S in a report on Tuesday, November 18th. Raymond James Financial started coverage on Ascendis Pharma A/S in a research report on Friday, October 17th. They set a “strong-buy” rating and a $271.00 target price on the stock. Wall Street Zen downgraded Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $256.60.

Ascendis Pharma A/S Stock Performance

The stock has a market capitalization of $12.16 billion, a PE ratio of -44.38 and a beta of 0.45. The company’s fifty day simple moving average is $205.93 and its two-hundred day simple moving average is $190.27.

Ascendis Pharma A/S (NASDAQ:ASND) last released its earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The business had revenue of $250.71 million for the quarter, compared to the consensus estimate of $246.91 million. Sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in shares of Ascendis Pharma A/S during the 3rd quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new position in Ascendis Pharma A/S in the second quarter valued at $39,000. Jones Financial Companies Lllp grew its position in Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 83 shares during the period. First Horizon Advisors Inc. purchased a new stake in Ascendis Pharma A/S during the second quarter valued at about $41,000. Finally, Hantz Financial Services Inc. increased its stake in Ascendis Pharma A/S by 291.1% during the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 262 shares during the last quarter.

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.