Ascendis Pharma A/S (NASDAQ:ASND) Releases Quarterly Earnings Results, Misses Estimates By $0.68 EPS

Key Points

• Ascendis Pharma missed earnings expectations: The biotechnology company reported quarterly EPS of $1.03, $0.68 below the $1.71 consensus estimate, while revenue of $387.22 million exceeded analysts’ $376.75 million forecast.
• Shares rose 0.9% to $248.50 following the results, with the company valued at approximately $15.5 billion. A director also purchased 400 shares worth $95,120.
• Analyst sentiment remains positive: The stock has a consensus “Buy” rating and an average price target of $299.24, despite some analysts trimming targets and one downgrading the shares to “Hold.”

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) announced its quarterly earnings results on Friday. The biotechnology company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.68), FiscalAI reports. The company had revenue of $387.22 million during the quarter, compared to analyst estimates of $376.75 million.

Ascendis Pharma A/S Trading Up 0.9%

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

Insider Transactions at Ascendis Pharma A/S

In other news, Director Jean Jacques Bienaime acquired 400 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the completion of the transaction, the director directly owned 400 shares in the company, valued at $95,120. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 40.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ascendis Pharma A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of ASND. Perceptive Advisors LLC acquired a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at $166,367,000. Wellington Management Group LLP boosted its holdings in Ascendis Pharma A/S by 95.9% during the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company's stock worth $357,645,000 after buying an additional 880,836 shares during the last quarter. Vestal Point Capital LP grew its position in shares of Ascendis Pharma A/S by 200.0% during the 3rd quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company's stock worth $119,286,000 after buying an additional 400,000 shares during the period. Two Sigma Investments LP increased its stake in shares of Ascendis Pharma A/S by 5,803.2% in the 3rd quarter. Two Sigma Investments LP now owns 183,886 shares of the biotechnology company's stock valued at $36,558,000 after acquiring an additional 180,771 shares during the last quarter. Finally, Jain Global LLC increased its stake in shares of Ascendis Pharma A/S by 502.1% in the 4th quarter. Jain Global LLC now owns 216,526 shares of the biotechnology company's stock valued at $46,172,000 after acquiring an additional 180,564 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ASND shares. Wells Fargo & Company reduced their target price on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Citigroup initiated coverage on shares of Ascendis Pharma A/S in a report on Monday, May 18th. They set a "buy" rating and a $355.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays dropped their price objective on shares of Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating for the company in a report on Friday. Finally, Wall Street Zen downgraded Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $299.24.

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.

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