Ascendis Pharma A/S (NASDAQ:ASND) Sets New 1-Year High - Here's What Happened

Key Points

• Ascendis Pharma A/S shares reached a new 52-week high, trading as high as $208.37, with a closing value of $208.30.
• Analysts have lowered and raised price targets, with a consensus price target of $244.36 and a rating of "Moderate Buy" from fifteen analysts.
• The company exceeded earnings expectations, reporting ($0.93) EPS and $216.28 million in revenue for the last quarter, surpassing estimates significantly.

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $208.37 and last traded at $208.30, with a volume of 63389 shares traded. The stock had previously closed at $204.05.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. UBS Group reaffirmed a "buy" rating and set a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Wedbush increased their price objective on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Wall Street Zen cut Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Stifel Nicolaus increased their price objective on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Fifteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.36.

Ascendis Pharma A/S Stock Performance

The company has a 50 day moving average of $192.77 and a 200 day moving average of $174.19. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of -41.47 and a beta of 0.41.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.42) by $0.49. The business had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. On average, equities analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASND. RA Capital Management L.P. increased its holdings in shares of Ascendis Pharma A/S by 1.7% in the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock valued at $1,602,474,000 after purchasing an additional 168,752 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Ascendis Pharma A/S by 12.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock valued at $475,970,000 after buying an additional 328,278 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Ascendis Pharma A/S by 1.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company's stock worth $328,258,000 after acquiring an additional 23,926 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ascendis Pharma A/S by 3.7% in the 1st quarter. Invesco Ltd. now owns 1,198,478 shares of the biotechnology company's stock worth $186,795,000 after acquiring an additional 42,465 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth $166,367,000.

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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