Ascendis Pharma A/S (NASDAQ:ASND) Trading Up 7.3% - Here's Why

Key Points

• Ascendis Pharma shares rose 7.3% to about $266 in Monday trading, despite volume running 74% below the average daily level.
• Analyst sentiment remains positive: the stock has a consensus “Buy” rating and a $304.35 average price target, with HC Wainwright initiating coverage at “Buy” and a $345 target.
• The company beat quarterly revenue expectations with $387.22 million but missed EPS estimates, reporting $1.03 versus the $1.71 consensus. Director Jean Jacques Bienaime also purchased 2,000 shares, while insiders own 40% of the company.

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) rose 7.3% during trading on Monday . The company traded as high as $266.17 and last traded at $266.06. Approximately 172,528 shares changed hands during trading, a decline of 74% from the average daily volume of 669,456 shares. The stock had previously closed at $247.91.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ASND. HC Wainwright began coverage on shares of Ascendis Pharma A/S in a research report on Thursday. They issued a "buy" rating and a $345.00 price target for the company. Barclays lowered their price target on Ascendis Pharma A/S from $345.00 to $329.00 and set an "overweight" rating on the stock in a research report on Friday, August 14th. Royal Bank Of Canada upped their target price on shares of Ascendis Pharma A/S from $280.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Evercore reaffirmed an "outperform" rating and issued a $329.00 price target on shares of Ascendis Pharma A/S in a report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ascendis Pharma A/S presently has a consensus rating of "Buy" and a consensus price target of $304.35.

Ascendis Pharma A/S Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 2.32. The firm has a market capitalization of $16.28 billion, a P/E ratio of 20.25 and a beta of 0.39. The stock's 50 day moving average is $255.74 and its two-hundred day moving average is $239.20.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its earnings results on Friday, August 14th. The biotechnology company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.71 by ($0.68). Ascendis Pharma A/S had a return on equity of 32.54% and a net margin of 70.99%.The company had revenue of $387.22 million for the quarter, compared to the consensus estimate of $376.75 million. As a group, equities analysts anticipate that Ascendis Pharma A/S will post 3.9 earnings per share for the current fiscal year.

Insider Transactions at Ascendis Pharma A/S

In related news, Director Jean Jacques Bienaime bought 2,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $246.33 per share, with a total value of $492,660.00. Following the completion of the transaction, the director owned 2,900 shares in the company, valued at $714,357. The trade was a 222.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 40.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock worth $249,000 after purchasing an additional 55 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Ascendis Pharma A/S by 4.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the biotechnology company's stock worth $347,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Ascendis Pharma A/S by 34.0% during the first quarter. EverSource Wealth Advisors LLC now owns 272 shares of the biotechnology company's stock valued at $62,000 after acquiring an additional 69 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Ascendis Pharma A/S by 15.1% during the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company's stock worth $117,000 after buying an additional 72 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Ascendis Pharma A/S by 75.2% during the fourth quarter. GW&K Investment Management LLC now owns 226 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 97 shares during the last quarter.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

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