Wedbush Initiates Coverage on Ascendis Pharma A/S to Outperform

Wedbush Initiates Coverage on Ascendis Pharma A/S(NASDAQ:ASND). The shares have been rated Outperform. The rating by Wedbush was issued on Sep 26, 2016.

Ascendis Pharma A/S (ASND) made into the market gainers list on Thursdays trading session with the shares advancing 0.81% or 0.16 points. Due to strong positive momentum, the stock ended at $19.97, which is also near the day’s high of $20.3. The stock began the session at $20.04 and the volume stood at 41,951 shares. The 52-week high of the shares is $21.7 and the 52 week low is $11.92. The company has a current market capitalization of $502 M and it has 2,51,28,242 shares in outstanding.

Ascendis Pharma A/S(ASND) last announced its earnings results on Aug 31, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.27M. Analysts had an estimated revenue of $1.11M. Earnings per share were $-0.59. Analysts had estimated an EPS of $-0.69.

Ascendis Pharma A/S is a clinical stage biopharmaceutical company. The Company is engaged in applying its TransCon technology to develop a pipeline of long-acting prodrug therapies that address markets with unmet medical needs. The Company is developing its lead product candidate TransCon human growth hormone (TransCon hGH) for once-weekly administration to treat growth hormone deficiency (GHD) and other indications. In addition to TransCon hGH the Company has developed a pipeline of long-acting prodrug product candidates such as TransCon Treprostinil for the treatment of pulmonary arterial hypertension (PAH) TransCon Insulin for the treatment of diabetes TransCon Peptide for the treatment of diabetes and TransCon Ranibizumab for the treatment of ophthalmology.

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