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

Shares of Ascendis Pharma A/S (NASDAQ:ASND) hit a new 52-week high on Friday . The company traded as high as $217.48 and last traded at $215.2750, with a volume of 162839 shares. The stock had previously closed at $206.45.

Wall Street Analysts Forecast Growth

ASND has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price objective on shares of Ascendis Pharma A/S from $203.00 to $254.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Royal Bank Of Canada boosted 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 report on Friday, August 8th. Citigroup restated a “buy” rating and set a $290.00 price target (up previously from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. UBS Group reiterated a “buy” rating and set a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Raymond James Financial started coverage on Ascendis Pharma A/S in a research report on Friday, October 17th. They issued a “strong-buy” rating and a $271.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.71.

Ascendis Pharma A/S Trading Down 1.0%

The firm has a market capitalization of $12.61 billion, a PE ratio of -39.61 and a beta of 0.44. The firm’s fifty day moving average price is $201.86 and its 200 day moving average price is $184.71.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its earnings results on Wednesday, November 12th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The company had revenue of $290.24 million for the quarter, compared to the consensus estimate of $246.91 million. On average, analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

A number of hedge funds have recently modified their holdings of ASND. Schonfeld Strategic Advisors LLC raised its position in Ascendis Pharma A/S by 1,944.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 38,250 shares of the biotechnology company’s stock valued at $7,604,000 after acquiring an additional 36,379 shares in the last quarter. Creative Planning grew its stake in shares of Ascendis Pharma A/S by 23.0% during the 3rd quarter. Creative Planning now owns 6,621 shares of the biotechnology company’s stock worth $1,316,000 after purchasing an additional 1,238 shares during the period. Raymond James Financial Inc. grew its stake in shares of Ascendis Pharma A/S by 151.1% during the 3rd quarter. Raymond James Financial Inc. now owns 3,269 shares of the biotechnology company’s stock worth $650,000 after purchasing an additional 1,967 shares during the period. Orbimed Advisors LLC increased its holdings in shares of Ascendis Pharma A/S by 457.9% during the 3rd quarter. Orbimed Advisors LLC now owns 191,905 shares of the biotechnology company’s stock valued at $38,153,000 after purchasing an additional 157,505 shares in the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in shares of Ascendis Pharma A/S by 2,492.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 36,345 shares of the biotechnology company’s stock valued at $7,226,000 after purchasing an additional 34,943 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.