Ascendis Pharma A/S (NASDAQ:ASND) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Unusually-strong trading volume: About 1,372,202 shares traded mid-day (a 99% increase vs. the prior session), with the stock last at $223.42 versus a prior close of $226.66 and trading down roughly 2.1%.
• Analyst sentiment: The stock carries a consensus rating of "Moderate Buy" with an average price target of $291.56, and several firms (including Bank of America) recently reiterated or raised buy ratings and price targets.
• Earnings mixed: Ascendis reported a significant EPS miss (loss of $0.64 vs. an expected $0.06) while slightly beating revenue estimates ($290.4M vs. $285.4M); the company has a market cap of $13.84 billion and a negative P/E of -50.41.

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,372,202 shares changed hands during mid-day trading, an increase of 99% from the previous session's volume of 688,497 shares.The stock last traded at $223.4160 and had previously closed at $226.66.

Wall Street Analyst Weigh In

ASND has been the subject of a number of analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $255.00 price objective on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Bank of America increased their price target on shares of Ascendis Pharma A/S from $262.00 to $292.00 and gave the company a "buy" rating in a report on Thursday, April 16th. TD Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research report on Wednesday, January 7th. Wedbush restated an "outperform" rating and issued a $273.00 price objective on shares of Ascendis Pharma A/S in a report on Thursday, April 9th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $260.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $291.56.

Ascendis Pharma A/S Trading Down 2.1%

The firm has a market cap of $13.84 billion, a P/E ratio of -50.41 and a beta of 0.49. The company's 50 day simple moving average is $231.47 and its 200-day simple moving average is $218.09.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.58). The company had revenue of $290.38 million for the quarter, compared to the consensus estimate of $285.35 million. On average, sell-side analysts anticipate that Ascendis Pharma A/S will post 4.13 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

Several large investors have recently modified their holdings of the company. Leonteq Securities AG lifted its holdings in Ascendis Pharma A/S by 405.9% in the first quarter. Leonteq Securities AG now owns 855 shares of the biotechnology company's stock valued at $196,000 after acquiring an additional 686 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Ascendis Pharma A/S by 243.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 251,833 shares of the biotechnology company's stock worth $56,907,000 after acquiring an additional 178,415 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in shares of Ascendis Pharma A/S by 10.0% in the 1st quarter. Braun Stacey Associates Inc. now owns 130,992 shares of the biotechnology company's stock worth $29,962,000 after purchasing an additional 11,897 shares in the last quarter. ARS Investment Partners LLC increased its stake in shares of Ascendis Pharma A/S by 20.0% in the 1st quarter. ARS Investment Partners LLC now owns 209,456 shares of the biotechnology company's stock worth $47,909,000 after purchasing an additional 34,845 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Ascendis Pharma A/S by 17.7% in the 4th quarter. Corient Private Wealth LLC now owns 3,393 shares of the biotechnology company's stock worth $724,000 after purchasing an additional 510 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.

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