Ascendis Pharma A/S (NASDAQ:ASND) Issues Earnings Results

Ascendis Pharma A/S (NASDAQ:ASND) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.68), Zacks reports.

Ascendis Pharma A/S Price Performance

Shares of Ascendis Pharma A/S stock traded down $1.94 on Wednesday, hitting $199.22. 666,119 shares of the company’s stock traded hands, compared to its average volume of 474,590. The firm’s 50-day moving average price is $201.74 and its two-hundred day moving average price is $184.05. The stock has a market capitalization of $12.29 billion, a PE ratio of -38.61 and a beta of 0.44. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45.

Institutional Investors Weigh In On Ascendis Pharma A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASND. Rhumbline Advisers raised its stake in Ascendis Pharma A/S by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 55 shares in the last quarter. Diversify Advisory Services LLC grew its position in shares of Ascendis Pharma A/S by 23.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,458 shares of the biotechnology company’s stock worth $424,000 after purchasing an additional 467 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Ascendis Pharma A/S by 19.1% during the second quarter. Diversify Wealth Management LLC now owns 7,139 shares of the biotechnology company’s stock worth $1,232,000 after purchasing an additional 1,145 shares during the period. Headlands Technologies LLC bought a new position in shares of Ascendis Pharma A/S during the second quarter worth approximately $206,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Ascendis Pharma A/S by 66.2% in the second quarter. Daiwa Securities Group Inc. now owns 3,737 shares of the biotechnology company’s stock valued at $645,000 after buying an additional 1,488 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on ASND shares. Cantor Fitzgerald boosted their target price on Ascendis Pharma A/S from $203.00 to $254.00 and gave the stock an “overweight” rating in a report on Monday, October 13th. Stifel Nicolaus lifted their price objective on Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Bank of America increased their target price on Ascendis Pharma A/S from $227.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Citigroup restated a “buy” rating and issued a $290.00 target price (up from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. 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, October 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ascendis Pharma A/S has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.