Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 3.3% - Time to Sell?

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report)'s share price dropped 3.3% on Tuesday . The stock traded as low as $153.17 and last traded at $155.91. Approximately 340,340 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 482,209 shares. The stock had previously closed at $161.15.

Analysts Set New Price Targets

Several brokerages have commented on ASND. Evercore ISI boosted their price target on shares of Ascendis Pharma A/S from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on shares of Ascendis Pharma A/S from $168.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Morgan Stanley set a $180.00 target price on Ascendis Pharma A/S in a report on Tuesday, February 18th. The Goldman Sachs Group upped their target price on Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada started coverage on Ascendis Pharma A/S in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $205.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.67.

Ascendis Pharma A/S Price Performance

The stock's 50 day simple moving average is $153.64 and its 200-day simple moving average is $138.68. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of -23.07 and a beta of 0.54.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC grew its holdings in Ascendis Pharma A/S by 2.0% during 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 last quarter. abrdn plc grew its stake in Ascendis Pharma A/S by 18.3% in the 4th quarter. abrdn plc now owns 187,180 shares of the biotechnology company's stock valued at $25,769,000 after buying an additional 28,967 shares during the last quarter. Exome Asset Management LLC grew its stake in 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 buying an additional 23,849 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ascendis Pharma A/S by 58.0% in the 4th quarter. GAMMA Investing LLC now owns 583 shares of the biotechnology company's stock worth $80,000 after acquiring an additional 214 shares during the period. Finally, Blue Trust Inc. lifted its position in Ascendis Pharma A/S by 540.5% during the 4th quarter. Blue Trust Inc. now owns 506 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 427 shares during the last quarter.

About Ascendis Pharma A/S

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.