Ascendis Pharma A/S (NASDAQ:ASND) Reaches New 1-Year High – Still a Buy?

Ascendis Pharma A/S (NASDAQ:ASND) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $242.44 and last traded at $242.09, with a volume of 1413069 shares changing hands. The stock had previously closed at $233.50.

Analyst Upgrades and Downgrades

ASND has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 21st. Wedbush upped their target price on shares of Ascendis Pharma A/S from $240.00 to $273.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Evercore reissued an “outperform” rating and issued a $324.00 price target on shares of Ascendis Pharma A/S in a research note on Monday. Morgan Stanley restated an “overweight” rating and set a $256.00 price target on shares of Ascendis Pharma A/S in a research report on Thursday, February 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $255.00 price objective on shares of Ascendis Pharma A/S in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $287.88.

Ascendis Pharma A/S Stock Performance

The firm has a market capitalization of $15.00 billion, a PE ratio of -55.02 and a beta of 0.44. The business’s 50 day moving average price is $219.23 and its 200-day moving average price is $208.34.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The business had revenue of $290.38 million during the quarter, compared to the consensus estimate of $285.35 million. As a group, analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Several institutional investors have recently bought and sold shares of ASND. Advisory Services Network LLC acquired a new stake in shares of Ascendis Pharma A/S during the third quarter worth about $26,000. Arax Advisory Partners grew its holdings in shares of Ascendis Pharma A/S by 212.2% in the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Leonteq Securities AG acquired a new stake in Ascendis Pharma A/S during the 4th quarter worth approximately $36,000. First Horizon Advisors Inc. acquired a new stake in Ascendis Pharma A/S during the 2nd quarter worth approximately $41,000. Finally, Jones Financial Companies Lllp boosted its position in Ascendis Pharma A/S by 57.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 83 shares during the period.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.