Ascendis Pharma A/S (ASND) Receives New Coverage from Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Ascendis Pharma A/S (NASDAQ:ASND) in a research note issued to investors on Friday, The Fly reports. The firm issued an outperform rating and a $80.00 target price on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Ascendis Pharma A/S from a hold rating to a strong-buy rating and set a $72.00 target price for the company in a research report on Tuesday, October 30th. BidaskClub upgraded Ascendis Pharma A/S from a sell rating to a hold rating in a research report on Friday, October 19th. ValuEngine cut Ascendis Pharma A/S from a strong-buy rating to a buy rating in a research report on Tuesday, October 2nd. Wedbush set a $79.00 price target on Ascendis Pharma A/S and gave the company a buy rating in a report on Thursday, August 30th. Finally, JPMorgan Chase & Co. raised their price target on Ascendis Pharma A/S from $79.00 to $81.00 and gave the company an overweight rating in a report on Thursday, August 30th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Ascendis Pharma A/S currently has an average rating of Buy and an average target price of $76.89.

Shares of NASDAQ:ASND traded down $0.52 during trading on Friday, hitting $63.38. 60,085 shares of the company’s stock were exchanged, compared to its average volume of 137,994. Ascendis Pharma A/S has a 52-week low of $33.50 and a 52-week high of $76.99. The stock has a market capitalization of $2.74 billion, a P/E ratio of -14.64 and a beta of 0.82.

Ascendis Pharma A/S (NASDAQ:ASND) last released its earnings results on Wednesday, August 29th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.37. Ascendis Pharma A/S had a negative return on equity of 49.69% and a negative net margin of 17,641.85%. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.16 million. Research analysts predict that Ascendis Pharma A/S will post -4.22 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meadow Creek Investment Management LLC grew its holdings in Ascendis Pharma A/S by 12.1% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,952 shares of the biotechnology company’s stock valued at $462,000 after buying an additional 748 shares in the last quarter. Glen Harbor Capital Management LLC lifted its stake in shares of Ascendis Pharma A/S by 12.1% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 8,848 shares of the biotechnology company’s stock valued at $589,000 after purchasing an additional 952 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Ascendis Pharma A/S by 28.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,760 shares of the biotechnology company’s stock valued at $480,000 after purchasing an additional 1,500 shares during the last quarter. Tiverton Asset Management LLC lifted its stake in shares of Ascendis Pharma A/S by 4.0% in the 2nd quarter. Tiverton Asset Management LLC now owns 43,839 shares of the biotechnology company’s stock valued at $2,916,000 after purchasing an additional 1,695 shares during the last quarter. Finally, Atria Investments LLC lifted its stake in shares of Ascendis Pharma A/S by 53.5% in the 2nd quarter. Atria Investments LLC now owns 4,967 shares of the biotechnology company’s stock valued at $330,000 after purchasing an additional 1,731 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. Through its TransCon technology, it develops a pipeline of sustained release prodrug therapies including endocrinology product candidates to support the market. The company was founded by Jan Moller Mikkelsen and Harald Rau in September 2006 and is headquartered in Hellerup, Denmark.

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