Short Interest in Ascendis Pharma A/S (NASDAQ:ASND) Drops By 5.1%

Ascendis Pharma A/S (NASDAQ:ASND) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 3,340,000 shares, a decrease of 5.1% from the August 31st total of 3,520,000 shares. Based on an average daily volume of 572,400 shares, the days-to-cover ratio is currently 5.8 days.

Ascendis Pharma A/S Stock Down 1.8 %

ASND stock opened at $146.60 on Wednesday. Ascendis Pharma A/S has a 52-week low of $85.29 and a 52-week high of $161.00. The stock’s fifty day simple moving average is $134.89 and its 200-day simple moving average is $136.34. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of -15.25 and a beta of 0.63.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings data on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.51). Ascendis Pharma A/S had a negative return on equity of 16,574.15% and a negative net margin of 154.18%. The business had revenue of $38.75 million for the quarter, compared to analyst estimates of $94.74 million. As a group, analysts anticipate that Ascendis Pharma A/S will post -7.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASND. Gilbert & Cook Inc. raised its position in shares of Ascendis Pharma A/S by 8.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,838 shares of the biotechnology company’s stock worth $357,000 after buying an additional 220 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $14,067,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $503,000. NEOS Investment Management LLC purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $476,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth $714,000.

Wall Street Analyst Weigh In

Several analysts have commented on ASND shares. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective (up from $180.00) on shares of Ascendis Pharma A/S in a research note on Tuesday, September 17th. Wells Fargo & Company increased their target price on Ascendis Pharma A/S from $264.00 to $289.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group increased their target price on Ascendis Pharma A/S from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Evercore ISI raised their price objective on Ascendis Pharma A/S from $191.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Ascendis Pharma A/S in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.