Ascendis Pharma A/S (NASDAQ:ASND) Issues Earnings Results, Misses Estimates By $0.76 EPS

Ascendis Pharma A/S (NASDAQ:ASND) issued its earnings results on Wednesday. The biotechnology company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76), Zacks reports. The business had revenue of $290.24 million during the quarter, compared to analysts’ expectations of $246.91 million.

Ascendis Pharma A/S Price Performance

NASDAQ:ASND opened at $201.08 on Thursday. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45. The company has a market cap of $12.41 billion, a PE ratio of -38.69 and a beta of 0.44. The firm has a 50-day moving average of $201.73 and a 200-day moving average of $184.15.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ASND. Cowen reaffirmed a “buy” rating on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $295.00 price target (up from $289.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Wall Street Zen upgraded Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Ascendis Pharma A/S from $260.00 to $264.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ascendis Pharma A/S presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

Institutional Trading of Ascendis Pharma A/S

Several institutional investors have recently made changes to their positions in ASND. Headlands Technologies LLC purchased a new stake in shares of Ascendis Pharma A/S in the second quarter worth about $206,000. Rhumbline Advisers grew its position in 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 acquiring an additional 55 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in Ascendis Pharma A/S by 23.5% in the second quarter. Diversify Advisory Services LLC now owns 2,458 shares of the biotechnology company’s stock worth $424,000 after buying an additional 467 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Ascendis Pharma A/S during the second quarter worth approximately $552,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Ascendis Pharma A/S by 66.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,737 shares of the biotechnology company’s stock worth $645,000 after acquiring an additional 1,488 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.