Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 7.4% – Should You Sell?

Ascendis Pharma A/S (NASDAQ:ASND) shares dropped 7.4% on Wednesday . The company traded as low as $127.93 and last traded at $127.20. Approximately 59,745 shares traded hands during trading, a decline of 87% from the average daily volume of 473,383 shares. The stock had previously closed at $137.41.

Analysts Set New Price Targets

A number of research firms have recently commented on ASND. JPMorgan Chase & Co. increased their target price on shares of Ascendis Pharma A/S from $168.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. UBS Group started coverage on shares of Ascendis Pharma A/S in a research report on Tuesday, January 7th. They set a “buy” rating and a $196.00 price objective for the company. The Goldman Sachs Group raised their target price on 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 target price on Ascendis Pharma A/S from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley set a $180.00 price target on shares of Ascendis Pharma A/S in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.64.

Ascendis Pharma A/S Stock Down 7.8 %

The firm’s fifty day moving average price is $147.03 and its 200 day moving average price is $137.74. The stock has a market cap of $7.69 billion, a PE ratio of -17.87 and a beta of 0.54.

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

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of large investors have recently bought and sold shares of ASND. Rice Hall James & Associates LLC boosted its holdings in shares of Ascendis Pharma A/S by 2.0% in the fourth quarter. Rice Hall James & Associates LLC now owns 163,888 shares of the biotechnology company’s stock valued at $22,562,000 after purchasing an additional 3,274 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Ascendis Pharma A/S by 42.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 18,000 shares of the biotechnology company’s stock valued at $2,688,000 after buying an additional 5,371 shares in the last quarter. Exome Asset Management LLC raised its position in shares of Ascendis Pharma A/S by 119.2% in the 3rd quarter. Exome Asset Management LLC now owns 43,849 shares of the biotechnology company’s stock valued at $6,547,000 after purchasing an additional 23,849 shares during the last quarter. abrdn plc lifted its stake in shares of Ascendis Pharma A/S by 18.3% during the fourth quarter. abrdn plc now owns 187,180 shares of the biotechnology company’s stock worth $25,769,000 after buying an additional 28,967 shares during the period. Finally, GAMMA Investing LLC grew its stake in Ascendis Pharma A/S by 58.0% during the 4th 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 last quarter.

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.