Ascendis Pharma A/S (NASDAQ:ASND) Rating Increased to Buy at Zacks Investment Research

Ascendis Pharma A/S (NASDAQ:ASND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $113.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential downside of 0.13% from the company’s current price.

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. ValuEngine upgraded Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, March 4th. BidaskClub upgraded Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Oppenheimer started coverage on Ascendis Pharma A/S in a research report on Thursday, March 19th. They set an “outperform” rating and a $199.00 target price on the stock. Morgan Stanley upped their target price on Ascendis Pharma A/S from $148.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, SVB Leerink restated an “outperform” rating and set a $152.00 target price (up previously from $140.00) on shares of Ascendis Pharma A/S in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $158.25.

Shares of NASDAQ ASND traded up $2.20 during trading on Tuesday, reaching $113.15. The company had a trading volume of 275,300 shares, compared to its average volume of 183,232. The company’s fifty day moving average price is $127.55 and its 200-day moving average price is $119.15. Ascendis Pharma A/S has a 12 month low of $90.06 and a 12 month high of $145.59. The stock has a market cap of $5.30 billion, a P/E ratio of -26.45 and a beta of 0.82. The company has a quick ratio of 15.75, a current ratio of 15.74 and a debt-to-equity ratio of 0.05.

A number of hedge funds have recently bought and sold shares of ASND. State Street Corp raised its stake in Ascendis Pharma A/S by 3.9% during the 3rd quarter. State Street Corp now owns 9,352 shares of the biotechnology company’s stock worth $901,000 after buying an additional 352 shares during the period. Stifel Financial Corp raised its stake in Ascendis Pharma A/S by 62.5% during the 3rd quarter. Stifel Financial Corp now owns 4,203 shares of the biotechnology company’s stock worth $407,000 after buying an additional 1,616 shares during the period. Barclays PLC raised its stake in Ascendis Pharma A/S by 2,789.6% during the 3rd quarter. Barclays PLC now owns 8,611 shares of the biotechnology company’s stock worth $829,000 after buying an additional 8,313 shares during the period. Castleark Management LLC raised its stake in Ascendis Pharma A/S by 15.4% during the 3rd quarter. Castleark Management LLC now owns 4,730 shares of the biotechnology company’s stock worth $456,000 after buying an additional 630 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in Ascendis Pharma A/S by 1,076.9% during the 3rd quarter. Voloridge Investment Management LLC now owns 24,361 shares of the biotechnology company’s stock worth $2,346,000 after buying an additional 22,291 shares during the period.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies for unmet medical needs. The company develops TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; TransCon parathyroid hormone that is in Phase I clinical study for treating hypoparathyroidism; and TransCon C-type natriuretic peptide for the treatment of achondroplasia.

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