Ascendis Pharma A/S (NASDAQ:ASND) Sees Significant Growth in Short Interest

Ascendis Pharma A/S (NASDAQ:ASNDGet Rating) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 7,970,000 shares, an increase of 6.3% from the August 15th total of 7,500,000 shares. Based on an average daily volume of 404,800 shares, the days-to-cover ratio is presently 19.7 days.

Ascendis Pharma A/S Stock Performance

NASDAQ ASND opened at $107.57 on Wednesday. The company’s 50 day moving average is $93.84 and its 200-day moving average is $96.62. Ascendis Pharma A/S has a 12-month low of $61.58 and a 12-month high of $172.65. The company has a quick ratio of 8.78, a current ratio of 9.66 and a debt-to-equity ratio of 0.82. The firm has a market cap of $6.13 billion, a P/E ratio of -13.63 and a beta of 0.66.

Ascendis Pharma A/S (NASDAQ:ASNDGet Rating) last posted its quarterly earnings results on Wednesday, August 10th. The biotechnology company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.11) by $0.57. Ascendis Pharma A/S had a negative net margin of 2,099.51% and a negative return on equity of 48.92%. The company had revenue of $6.51 million for the quarter, compared to analyst estimates of $7.07 million. Sell-side analysts predict that Ascendis Pharma A/S will post -8.73 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Brown Advisory Inc. increased its holdings in Ascendis Pharma A/S by 25.1% during the 2nd quarter. Brown Advisory Inc. now owns 634,007 shares of the biotechnology company’s stock worth $58,937,000 after acquiring an additional 127,347 shares during the period. Prelude Capital Management LLC increased its holdings in Ascendis Pharma A/S by 117.4% during the 2nd quarter. Prelude Capital Management LLC now owns 5,001 shares of the biotechnology company’s stock worth $465,000 after acquiring an additional 2,701 shares during the period. Captrust Financial Advisors increased its holdings in Ascendis Pharma A/S by 52.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,594 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 548 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ascendis Pharma A/S by 89.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,316,215 shares of the biotechnology company’s stock worth $308,275,000 after acquiring an additional 1,561,757 shares during the period. Finally, Tamarack Advisers LP bought a new stake in Ascendis Pharma A/S during the 2nd quarter worth approximately $1,394,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Ascendis Pharma A/S from $154.00 to $144.00 and set an “outperform” rating on the stock in a report on Thursday, August 11th. SVB Leerink cut their price target on shares of Ascendis Pharma A/S from $174.00 to $168.00 and set an “outperform” rating on the stock in a report on Thursday, August 11th. Berenberg Bank restated a “buy” rating and set a $166.00 price target on shares of Ascendis Pharma A/S in a report on Tuesday, August 30th. Finally, Morgan Stanley lowered their price objective on shares of Ascendis Pharma A/S from $152.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.10.

Ascendis Pharma A/S Company Profile

(Get Rating)

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapeutics for unmet medical needs. The company offers SKYTROFA for treating patients with growth hormone deficiency (GHD). It also develops TransCon Growth Hormone (hGH) for pediatric GHD in Japan; TransCon hGH for adults with GHD; TransCon parathyroid hormone for adult hypoparathyroidism; and TransCon CNP for pediatric achondroplasia.

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