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

by · The Markets Daily

Ascendis Pharma A/S (NASDAQ:ASNDGet Free Report) released its quarterly earnings data on Friday. The biotechnology company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.68), FiscalAI reports. The business had revenue of $387.22 million for the quarter, compared to analysts’ expectations of $376.75 million.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock traded up $2.27 on Friday, hitting $248.50. The company’s stock had a trading volume of 650,358 shares, compared to its average volume of 691,457. Ascendis Pharma A/S has a fifty-two week low of $186.05 and a fifty-two week high of $282.15. The company has a market capitalization of $15.50 billion, a PE ratio of 28.66 and a beta of 0.39. The stock’s 50 day moving average is $248.84 and its 200-day moving average is $237.16. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.00.

Insiders Place Their Bets

In other Ascendis Pharma A/S news, Director Jean Jacques Bienaime acquired 400 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $237.80 per share, with a total value of $95,120.00. Following the acquisition, the director directly owned 400 shares of the company’s stock, valued at approximately $95,120. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASND. Corient Private Wealth LLC grew its position in Ascendis Pharma A/S by 17.7% during the fourth quarter. Corient Private Wealth LLC now owns 3,393 shares of the biotechnology company’s stock worth $724,000 after buying an additional 510 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Ascendis Pharma A/S by 1.7% during the 4th quarter. Empowered Funds LLC now owns 36,697 shares of the biotechnology company’s stock valued at $7,825,000 after acquiring an additional 620 shares during the period. XTX Topco Ltd acquired a new stake in shares of Ascendis Pharma A/S during the 4th quarter worth $951,000. Virtus Investment Advisers LLC increased its position in shares of Ascendis Pharma A/S by 19.2% in the fourth quarter. Virtus Investment Advisers LLC now owns 3,100 shares of the biotechnology company’s stock worth $661,000 after purchasing an additional 500 shares during the period. Finally, Spyglass Capital Management LLC raised its stake in Ascendis Pharma A/S by 6.9% in the fourth quarter. Spyglass Capital Management LLC now owns 415,549 shares of the biotechnology company’s stock valued at $88,612,000 after purchasing an additional 26,902 shares in the last quarter.

Wall Street Analyst Weigh In

ASND has been the subject of several research analyst reports. Wall Street Zen lowered shares of Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. TD Cowen raised their price objective on shares of Ascendis Pharma A/S from $325.00 to $341.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley boosted their price objective on Ascendis Pharma A/S from $256.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company decreased their target price on Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Ascendis Pharma A/S from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $299.24.

View Our Latest Stock Report on ASND

Ascendis Pharma A/S Company Profile

(Get Free Report)

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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