Ascendis Pharma A/S (ASND) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Ascendis Pharma A/S (NASDAQ:ASND) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Ascendis Pharma A/S from a hold rating to a buy rating in a research report on Wednesday, December 27th. Bank of America lifted their price objective on Ascendis Pharma A/S from $36.00 to $46.00 in a research report on Thursday, September 28th. HC Wainwright reiterated a buy rating on shares of Ascendis Pharma A/S in a research report on Wednesday, December 13th. Credit Suisse Group reiterated an outperform rating and issued a $50.00 price objective (up previously from $30.00) on shares of Ascendis Pharma A/S in a research report on Friday, September 22nd. Finally, Wedbush reiterated an outperform rating and issued a $10.71 price objective (down previously from $65.00) on shares of Ascendis Pharma A/S in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $38.79.

Shares of Ascendis Pharma A/S (ASND) traded up $0.95 on Tuesday, reaching $46.58. The company’s stock had a trading volume of 65,795 shares, compared to its average volume of 143,900. Ascendis Pharma A/S has a 52-week low of $19.95 and a 52-week high of $47.71. The company has a market cap of $1,660.00 and a P/E ratio of -11.85.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASND. California Public Employees Retirement System acquired a new stake in shares of Ascendis Pharma A/S in the 2nd quarter valued at $430,000. VHCP Management II LLC increased its stake in shares of Ascendis Pharma A/S by 21.6% in the 2nd quarter. VHCP Management II LLC now owns 986,492 shares of the biotechnology company’s stock valued at $27,385,000 after buying an additional 175,000 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Ascendis Pharma A/S in the 2nd quarter valued at $15,403,000. DAFNA Capital Management LLC increased its stake in shares of Ascendis Pharma A/S by 82.4% in the 2nd quarter. DAFNA Capital Management LLC now owns 33,214 shares of the biotechnology company’s stock valued at $922,000 after buying an additional 15,000 shares during the period. Finally, RA Capital Management LLC increased its stake in shares of Ascendis Pharma A/S by 3.2% in the 2nd quarter. RA Capital Management LLC now owns 5,580,690 shares of the biotechnology company’s stock valued at $154,920,000 after buying an additional 170,700 shares during the period. 78.93% of the stock is owned by institutional investors.

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About Ascendis Pharma A/S

Ascendis Pharma A/S is a clinical-stage biopharmaceutical company. The Company is engaged in applying its TransCon technology to develop sustained release prodrug therapies with several product candidates in clinical and preclinical development. The Company is developing its product candidate, TransCon human growth hormone (TransCon hGH) for once-weekly administration to treat growth hormone deficiency (GHD) and other indications.

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