Ascendis Pharma A/S (NASDAQ:ASND) Announces Earnings Results

Ascendis Pharma A/S (NASDAQ:ASND) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.76), Zacks reports. The firm had revenue of $290.24 million for the quarter, compared to the consensus estimate of $246.91 million.

Ascendis Pharma A/S Trading Up 0.4%

NASDAQ:ASND traded up $0.85 during mid-day trading on Friday, hitting $207.30. 622,392 shares of the company’s stock were exchanged, compared to its average volume of 481,394. The firm has a market capitalization of $12.79 billion, a P/E ratio of -40.17 and a beta of 0.44. Ascendis Pharma A/S has a fifty-two week low of $118.03 and a fifty-two week high of $219.30. The company has a 50 day simple moving average of $201.89 and a 200-day simple moving average of $184.31.

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of hedge funds have recently bought and sold shares of ASND. Rhumbline Advisers grew its stake in Ascendis Pharma A/S by 4.0% during the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 55 shares during the period. Quadrant Capital Group LLC bought a new position in shares of Ascendis Pharma A/S during the 3rd quarter worth approximately $74,000. Diversify Advisory Services LLC boosted its position in Ascendis Pharma A/S by 23.5% in the second quarter. Diversify Advisory Services LLC now owns 2,458 shares of the biotechnology company’s stock worth $424,000 after purchasing an additional 467 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Ascendis Pharma A/S by 4.6% during the 3rd quarter. Natixis Advisors LLC now owns 11,142 shares of the biotechnology company’s stock valued at $2,215,000 after purchasing an additional 492 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Ascendis Pharma A/S by 70.8% during the 3rd quarter. Brooklyn Investment Group now owns 1,334 shares of the biotechnology company’s stock worth $265,000 after purchasing an additional 553 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup reissued a “buy” rating and set a $290.00 price target (up previously from $243.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Bank of America lifted their price target on shares of Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ascendis Pharma A/S presently has an average rating of “Moderate Buy” and an average target price of $249.80.

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.