Ascendis Pharma A/S (NASDAQ:ASND) Releases Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Key Points

• Ascendis Pharma A/S reported a quarterly loss of ($0.93) EPS, exceeding analysts' estimates by $0.49, while revenue reached $216.28 million, significantly surpassing expectations of $163.17 million.
• The company's stock price increased to $191.49, with a market cap of $11.71 billion and a consensus rating of "Buy" based on recent analyst reports.
• Several investment firms raised their target prices for Ascendis Pharma, with UBS Group setting a target of $307.00 and Wells Fargo raising theirs to $295.00.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) released its earnings results on Thursday. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.42) by $0.49, Zacks reports. The company had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million.

Ascendis Pharma A/S Price Performance

NASDAQ ASND traded up $1.14 on Friday, hitting $191.49. 1,554,046 shares of the company's stock were exchanged, compared to its average volume of 464,205. The firm's 50-day moving average price is $174.03 and its two-hundred day moving average price is $158.83. Ascendis Pharma A/S has a fifty-two week low of $111.09 and a fifty-two week high of $199.99. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of -37.11 and a beta of 0.41.

Hedge Funds Weigh In On Ascendis Pharma A/S

An institutional investor recently bought a new position in Ascendis Pharma A/S stock. Cetera Investment Advisers purchased a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,200 shares of the biotechnology company's stock, valued at approximately $552,000.

Wall Street Analysts Forecast Growth

ASND has been the subject of a number of recent research reports. UBS Group lifted their target price on Ascendis Pharma A/S from $306.00 to $307.00 and gave the company a "buy" rating in a report on Friday. Royal Bank Of Canada raised their price target on Ascendis Pharma A/S from $210.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday. Wedbush lifted their target price on Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley started coverage on Ascendis Pharma A/S in a research report on Thursday, July 3rd. They set an "overweight" rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Ascendis Pharma A/S from $289.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $239.80.

Ascendis Pharma A/S Company Profile

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.

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