Ascendis Pharma A/S (NASDAQ:ASND) Shares Gap Up on Strong Earnings

Ascendis Pharma A/S (NASDAQ:ASND)’s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $126.14, but opened at $138.75. Ascendis Pharma A/S shares last traded at $144.08, with a volume of 490,196 shares.

The biotechnology company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.64.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASND. UBS Group started coverage on Ascendis Pharma A/S in a research note on Tuesday, January 7th. They issued a “buy” rating and a $196.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Ascendis Pharma A/S from $200.00 to $207.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com raised shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Oppenheimer lowered their target price on shares of Ascendis Pharma A/S from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Ascendis Pharma A/S in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $193.43.

Institutional Trading of Ascendis Pharma A/S

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westfield Capital Management Co. LP increased its stake in shares of Ascendis Pharma A/S by 3.4% during the third quarter. Westfield Capital Management Co. LP now owns 5,133,766 shares of the biotechnology company’s stock valued at $766,523,000 after purchasing an additional 170,942 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Ascendis Pharma A/S by 0.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,450,420 shares of the biotechnology company’s stock valued at $612,689,000 after acquiring an additional 39,309 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Ascendis Pharma A/S by 6.8% during the third quarter. Janus Henderson Group PLC now owns 4,186,694 shares of the biotechnology company’s stock valued at $625,075,000 after acquiring an additional 267,881 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ascendis Pharma A/S by 9.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,866,986 shares of the biotechnology company’s stock valued at $278,760,000 after acquiring an additional 155,971 shares in the last quarter. Finally, FIL Ltd increased its position in shares of Ascendis Pharma A/S by 13.9% during the fourth quarter. FIL Ltd now owns 729,275 shares of the biotechnology company’s stock valued at $100,399,000 after acquiring an additional 89,016 shares in the last quarter.

Ascendis Pharma A/S Price Performance

The company’s 50-day moving average is $132.19 and its two-hundred day moving average is $132.29. The company has a market cap of $8.65 billion, a P/E ratio of -17.63 and a beta of 0.64.

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.