Ascendis Pharma A/S (NASDAQ:ASND) Hits New 12-Month High – Here’s What Happened

Ascendis Pharma A/S (NASDAQ:ASND)’s stock price reached a new 52-week high on Monday . The stock traded as high as $242.44 and last traded at $242.09, with a volume of 1413069 shares changing hands. The stock had previously closed at $233.50.

Analysts Set New Price Targets

A number of research analysts have weighed in on ASND shares. Morgan Stanley reiterated an “overweight” rating and set a $256.00 price objective on shares of Ascendis Pharma A/S in a research report on Thursday, February 12th. TD Cowen reissued a “buy” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $255.00 target price on shares of Ascendis Pharma A/S in a research report on Monday. Wedbush boosted their target price on shares of Ascendis Pharma A/S from $240.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $325.00 price objective on shares of Ascendis Pharma A/S in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ascendis Pharma A/S currently has a consensus rating of “Moderate Buy” and an average target price of $287.88.

Ascendis Pharma A/S Stock Up 3.7%

The stock has a market capitalization of $15.00 billion, a P/E ratio of -55.02 and a beta of 0.44. The stock’s 50 day moving average price is $219.23 and its 200-day moving average price is $208.34.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The business had revenue of $290.38 million during the quarter, compared to the consensus estimate of $285.35 million. Analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Large investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in shares of Ascendis Pharma A/S during the third quarter valued at about $26,000. Arax Advisory Partners boosted its holdings in Ascendis Pharma A/S by 212.2% in the fourth quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Leonteq Securities AG acquired a new stake in Ascendis Pharma A/S during the fourth quarter worth about $36,000. First Horizon Advisors Inc. acquired a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at $41,000. Finally, Jones Financial Companies Lllp boosted its position in Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 83 shares in the last quarter.

About Ascendis Pharma A/S

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.