Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 5.1% – Here’s Why

Ascendis Pharma A/S (NASDAQ:ASNDGet Free Report)’s stock price dropped 5.1% during trading on Thursday . The company traded as low as $126.38 and last traded at $127.98. Approximately 108,859 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 416,135 shares. The stock had previously closed at $134.87.

Analyst Ratings Changes

ASND has been the subject of several analyst reports. Oppenheimer dropped their target price on Ascendis Pharma A/S from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. TD Cowen dropped their price objective on Ascendis Pharma A/S from $160.00 to $153.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and set a $181.00 price target on shares of Ascendis Pharma A/S in a research report on Friday, November 15th. JPMorgan Chase & Co. cut their price objective on Ascendis Pharma A/S from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their target price on Ascendis Pharma A/S from $200.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $192.07.

Check Out Our Latest Analysis on Ascendis Pharma A/S

Ascendis Pharma A/S Stock Performance

The stock has a market cap of $7.78 billion, a price-to-earnings ratio of -15.86 and a beta of 0.65. The company’s 50 day simple moving average is $133.13 and its 200 day simple moving average is $133.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASND. Wilmington Savings Fund Society FSB bought a new position in Ascendis Pharma A/S during the 3rd quarter valued at $30,000. Groupama Asset Managment acquired a new position in Ascendis Pharma A/S during the third quarter worth about $60,000. GAMMA Investing LLC raised its position 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 worth $80,000 after acquiring an additional 214 shares in the last quarter. Signaturefd LLC lifted its holdings in Ascendis Pharma A/S by 13.2% in the 3rd quarter. Signaturefd LLC now owns 686 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 80 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Ascendis Pharma A/S by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 1,533 shares of the biotechnology company’s stock valued at $209,000 after purchasing an additional 143 shares in the last quarter.

About Ascendis Pharma A/S

(Get Free Report)

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.

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