Ascendis Pharma A/S (NASDAQ:ASND) Reaches New 12-Month High - Here's What Happened

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 stock 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ASND shares. Wells Fargo & Company restated an "overweight" rating and issued a $295.00 target price (up previously from $289.00) on shares of Ascendis Pharma A/S in a report on Friday. UBS Group upped their price objective on shares of Ascendis Pharma A/S from $306.00 to $307.00 and gave the company a "buy" rating in a research note on Friday. Wedbush raised their price objective on Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus boosted their target price on Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a report on Friday. Finally, Morgan Stanley started coverage on Ascendis Pharma A/S in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 target price for the company. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.33.

Ascendis Pharma A/S Trading Down 3.8%

The business has a 50 day moving average price of $173.47 and a 200-day moving average price of $158.42. The firm has a market capitalization of $11.19 billion, a PE ratio of -29.29 and a beta of 0.41.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share 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 analyst estimates of $163.17 million. On average, equities research analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Ascendis Pharma A/S by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 60,804 shares of the biotechnology company's stock valued at $10,495,000 after acquiring an additional 2,953 shares during the period. Vise Technologies Inc. purchased a new position in Ascendis Pharma A/S in the 2nd quarter valued at approximately $222,000. Sterling Capital Management LLC raised its holdings in Ascendis Pharma A/S by 6.7% during the second quarter. Sterling Capital Management LLC now owns 54,509 shares of the biotechnology company's stock worth $9,408,000 after purchasing an additional 3,432 shares during the last quarter. First Horizon Advisors Inc. purchased a new stake in Ascendis Pharma A/S during the second quarter worth $41,000. Finally, Sigma Planning Corp grew its holdings in Ascendis Pharma A/S by 170.9% in the second quarter. Sigma Planning Corp now owns 4,104 shares of the biotechnology company's stock valued at $708,000 after purchasing an additional 2,589 shares during the last quarter.

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.