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

Ascendis Pharma A/S (NASDAQ:ASND) announced its quarterly earnings results on Friday. The biotechnology company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.68), FiscalAI reports. The firm had revenue of $387.22 million for the quarter, compared to the consensus estimate of $376.75 million.

Ascendis Pharma A/S Stock Up 0.9%

ASND stock traded up $2.27 during trading hours on Friday, reaching $248.50. 650,251 shares of the stock were exchanged, compared to its average volume of 689,991. The firm’s 50-day moving average is $248.84 and its 200-day moving average is $237.16. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 28.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.00 and a quick ratio of 0.72. Ascendis Pharma A/S has a 12 month low of $186.05 and a 12 month high of $282.15.

Insider Activity at Ascendis Pharma A/S

In other news, Director Jean Jacques Bienaime acquired 400 shares of Ascendis Pharma A/S stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $237.80 per share, with a total value of $95,120.00. Following the completion of the transaction, the director directly owned 400 shares of the company’s stock, valued at approximately $95,120. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several institutional investors have recently bought and sold shares of ASND. Graham Capital Management L.P. acquired a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at $228,000. HRT Financial LP acquired a new stake in shares of Ascendis Pharma A/S during the 4th quarter worth about $239,000. State of Wyoming bought a new stake in shares of Ascendis Pharma A/S during the 4th quarter worth about $175,000. PharVision Advisers LLC bought a new stake in shares of Ascendis Pharma A/S during the 3rd quarter worth about $233,000. Finally, Certuity LLC acquired a new position in Ascendis Pharma A/S in the 3rd quarter valued at about $220,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Ascendis Pharma A/S in a research note on Tuesday, June 9th. TD Cowen increased their price target on Ascendis Pharma A/S from $325.00 to $341.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company dropped their price target on Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Morgan Stanley lifted their price objective on Ascendis Pharma A/S from $256.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada boosted their price objective on Ascendis Pharma A/S from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $299.24.

About Ascendis Pharma A/S

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.