Ascendis Pharma A/S (NASDAQ:ASND) Share Price Passes Above Fifty Day Moving Average – What’s Next?
by Sarita Garza · The Markets DailyAscendis Pharma A/S (NASDAQ:ASND – Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $227.04 and traded as high as $231.25. Ascendis Pharma A/S shares last traded at $228.73, with a volume of 573,470 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ASND. Barclays started coverage on Ascendis Pharma A/S in a research note on Tuesday, January 27th. They set an “overweight” rating and a $342.00 target price for the company. Bank of America reissued a “buy” rating and set a $262.00 price objective on shares of Ascendis Pharma A/S in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 21st. Wolfe Research reiterated an “outperform” rating and issued a $260.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Finally, Oppenheimer boosted their price target on shares of Ascendis Pharma A/S from $246.00 to $262.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $289.89.
Ascendis Pharma A/S Stock Performance
The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of -52.10 and a beta of 0.49. The company has a 50-day moving average price of $227.27 and a 200-day moving average price of $213.45.
Ascendis Pharma A/S (NASDAQ:ASND – Get Free Report) last posted its earnings results on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The company had revenue of $290.38 million during the quarter, compared to analysts’ expectations of $285.35 million. On average, research analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ascendis Pharma A/S
A number of institutional investors and hedge funds have recently bought and sold shares of ASND. Avoro Capital Advisors LLC grew its stake in Ascendis Pharma A/S by 2.6% during the 3rd quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company’s stock worth $1,015,919,000 after buying an additional 130,000 shares during the last quarter. Capital International Investors grew its holdings in shares of Ascendis Pharma A/S by 0.4% during the third quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company’s stock worth $608,481,000 after buying an additional 13,685 shares during the last quarter. Wellington Management Group LLP increased its position in Ascendis Pharma A/S by 95.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock valued at $357,645,000 after acquiring an additional 880,836 shares during the period. Principal Financial Group Inc. raised its stake in Ascendis Pharma A/S by 29.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company’s stock valued at $218,871,000 after acquiring an additional 232,730 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in Ascendis Pharma A/S during the 2nd quarter valued at approximately $166,367,000.
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.