Ascendis Pharma A/S (NASDAQ:ASND) Sets New 52-Week High - Time to Buy?

Key Points

• Ascendis Pharma A/S (NASDAQ:ASND) reached a new 52-week high of $184.78, closing at $184.15 with a trading volume of 456,534 shares.
• Analysts have set a consensus price target of $223.67 for Ascendis Pharma, with a majority of them rating the stock as a "Moderate Buy."
• For the latest quarter, Ascendis Pharma reported revenue of $123.97 million, exceeding analysts' expectations despite a loss of ($1.66) per share.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $184.78 and last traded at $184.15, with a volume of 456534 shares. The stock had previously closed at $174.48.

Analysts Set New Price Targets

ASND has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of Ascendis Pharma A/S in a research note on Monday, May 12th. JPMorgan Chase & Co. raised their target price on shares of Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Morgan Stanley initiated 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. Finally, Bank of America raised their price objective on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ascendis Pharma A/S presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.67.

Ascendis Pharma A/S Stock Up 5.5%

The stock has a market cap of $11.26 billion, a P/E ratio of -29.32 and a beta of 0.41. The firm's 50-day moving average is $171.44 and its two-hundred day moving average is $157.23.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.10). The company had revenue of $123.97 million for the quarter, compared to analysts' expectations of $98.56 million. Analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at approximately $28,000. Compagnie Lombard Odier SCmA bought a new position in shares of Ascendis Pharma A/S in the second quarter valued at approximately $39,000. Hantz Financial Services Inc. raised its position in shares of Ascendis Pharma A/S by 291.1% in the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 262 shares during the period. Brooklyn Investment Group raised its position in shares of Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 273 shares during the period. Finally, Quarry LP bought a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at approximately $96,000.

About Ascendis Pharma A/S

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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