Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Down 7.4% – Here’s What Happened

Shares of Ascendis Pharma A/S (NASDAQ:ASND) fell 7.4% during mid-day trading on Wednesday . The stock traded as low as $127.93 and last traded at $127.20. 59,745 shares were traded during mid-day trading, a decline of 87% from the average session volume of 473,383 shares. The stock had previously closed at $137.41.

Analysts Set New Price Targets

ASND has been the topic of a number of analyst reports. UBS Group assumed coverage on shares of Ascendis Pharma A/S in a research note on Tuesday, January 7th. They set a “buy” rating and a $196.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Ascendis Pharma A/S from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald raised their price objective on shares of Ascendis Pharma A/S from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their target price on Ascendis Pharma A/S from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Evercore ISI raised their price objective on shares of Ascendis Pharma A/S from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Ascendis Pharma A/S presently has an average rating of “Moderate Buy” and a consensus price target of $204.64.

Ascendis Pharma A/S Stock Down 7.8 %

The business has a 50-day moving average price of $147.03 and a 200-day moving average price of $137.74. The firm has a market capitalization of $7.69 billion, a P/E ratio of -17.87 and a beta of 0.54.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.64. As a group, sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently modified their holdings of ASND. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ascendis Pharma A/S during the 4th quarter worth approximately $28,000. Wilmington Savings Fund Society FSB bought a new position in shares of Ascendis Pharma A/S in the 3rd quarter valued at $30,000. Jones Financial Companies Lllp boosted its stake in shares of Ascendis Pharma A/S by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 197 shares in the last quarter. Blue Trust Inc. grew its holdings in Ascendis Pharma A/S by 415.2% during the 4th quarter. Blue Trust Inc. now owns 407 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 328 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ascendis Pharma A/S by 58.0% in the fourth quarter. GAMMA Investing LLC now owns 583 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 214 shares during the period.

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.