Ascendis Pharma A/S (NASDAQ:ASND) Reaches New 52-Week High - What's Next?

Key Points

• Ascendis Pharma A/S shares reached a new 52-week high of $208.16, reflecting strong trading activity with 38,815 shares exchanged.
• The company has received multiple upgrades from analysts, with a consensus average target price set at $244.36 and a majority rating of "Buy" from fifteen research analysts.
• In its latest earnings report, Ascendis Pharma reported earnings per share (EPS) of ($0.93), surpassing expectations and generating revenues of $216.28 million for the quarter.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $208.16 and last traded at $204.50, with a volume of 38815 shares. The stock had previously closed at $205.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ASND shares. Morgan Stanley started coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They set an "overweight" rating and a $250.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Stifel Nicolaus boosted their price target on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $224.00 price target (up previously from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $244.36.

Ascendis Pharma A/S Trading Down 1.1%

The stock has a market capitalization of $11.97 billion, a PE ratio of -37.90 and a beta of 0.39. The firm's fifty day moving average is $185.36 and its 200-day moving average is $169.49.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.49. The company had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million. As a group, equities analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Trading of Ascendis Pharma A/S

Several institutional investors and hedge funds have recently bought and sold shares of ASND. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ascendis Pharma A/S in the 4th quarter valued at about $28,000. Tema Etfs LLC purchased a new stake in Ascendis Pharma A/S during the fourth quarter worth about $2,621,000. Soleus Capital Management L.P. purchased a new stake in Ascendis Pharma A/S during the fourth quarter worth about $19,824,000. Vestal Point Capital LP increased its stake in Ascendis Pharma A/S by 108.0% during the fourth quarter. Vestal Point Capital LP now owns 520,000 shares of the biotechnology company's stock worth $71,588,000 after purchasing an additional 270,000 shares during the period. Finally, Zimmer Partners LP increased its stake in Ascendis Pharma A/S by 24.2% during the fourth quarter. Zimmer Partners LP now owns 96,900 shares of the biotechnology company's stock worth $13,340,000 after purchasing an additional 18,900 shares during the period.

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.