By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst cuts you may have missed since yesterday.
Ascendis Pharma shares plunge on FDA’s identified deficiencies, analysts downgrade the stock
Ascendis Pharma (NASDAQ:ASND) was downgraded at Credit Suisse and Morgan Stanley after the U.S. Food & Drug Administration (FDA) said it had identified deficiencies in the company’s New Drug Application (NDA) for TransCon PTH (palopegteriparatide) in hypoparathyroidism. As a result, shares plunged more than 32% yesterday.
Credit Suisse downgraded the stock to Neutral from Outperform and cut its price target to $82.00 from $130.00, noting it is lowering the TransCon PTH PoS to 65% from 90%, as well as adjusting the timing and ramp of the TransCon PTH launch.
Meanwhile, Morgan Stanley downgraded the stock to Equalweight from Overweight and cut its price target to $108.00 from $151.00.
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nCino downgraded at Morgan Stanley following Q4 earnings results
Morgan Stanley downgraded nCino (NASDAQ:NCNO) to Equalweight from Overweight and cut its price target to $25.00 from $27.00. Shares are down more than 2% pre-market today.
The company reported its Q4 earnings results last week, with revenue growing 46% year-over-year to $109.2 million, beating the company’s guidance.
Charter Communications downgraded ahead of Q1 earnings announcement
KeyBanc downgraded Charter Communications (NASDAQ:CHTR) to Sector Weight from Overweight.
The company will report its Q1/23 earnings results on April 28. Wall Street analysts expect an EPS of 7.60 and revenue of $13.61 billion.
3 more downgrades
Barclays downgraded Certara (NASDAQ:CERT) to Equalweight from Overweight with a price target of $25.00.
Scotiabank downgraded Healthpeak Properties (NYSE:PEAK) to Sector Perform from Sector Outperform and cut its price target to $24.00 from $27.00.
Mizuho Securities downgraded IDACORP (NYSE:IDA) to Neutral from Buy and cut its price target to $107.00 from $117.00.
