Ascendis Pharma A/S (NASDAQ:ASND) Trading 8.6% Higher - What's Next?

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) shot up 8.6% during mid-day trading on Monday . The company traded as high as $176.74 and last traded at $176.83. 409,344 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 499,326 shares. The stock had previously closed at $162.84.

Analyst Upgrades and Downgrades

ASND has been the topic of a number of research reports. Wedbush raised their price target on Ascendis Pharma A/S from $181.00 to $212.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Evercore ISI raised their target price on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley upgraded shares of Ascendis Pharma A/S from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $180.00 to $250.00 in a research report on Monday, May 5th. Royal Bank of Canada increased their price target on shares of Ascendis Pharma A/S from $205.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Ascendis Pharma A/S has an average rating of "Moderate Buy" and an average price target of $216.73.

Ascendis Pharma A/S Stock Performance

The company has a market cap of $10.59 billion, a price-to-earnings ratio of -24.46 and a beta of 0.41. The company has a 50-day simple moving average of $158.09 and a 200-day simple moving average of $145.77.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.10). The company had revenue of $123.97 million during the quarter, compared to analysts' expectations of $98.56 million. As a group, equities research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Institutional Investors Weigh In On Ascendis Pharma A/S

Several institutional investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC increased its holdings in shares of Ascendis Pharma A/S by 3.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,676 shares of the biotechnology company's stock valued at $368,000 after purchasing an additional 100 shares in the last quarter. Legato Capital Management LLC increased its holdings in Ascendis Pharma A/S by 7.5% in the fourth quarter. Legato Capital Management LLC now owns 1,921 shares of the biotechnology company's stock valued at $264,000 after buying an additional 134 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ascendis Pharma A/S by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock valued at $1,337,000 after buying an additional 195 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Ascendis Pharma A/S by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company's stock valued at $34,000 after acquiring an additional 197 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ascendis Pharma A/S during the 4th quarter worth approximately $28,000.

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.