Ascendis Pharma A/S (NASDAQ:ASND) Hits New 12-Month High – Time to Buy?

Ascendis Pharma A/S (NASDAQ:ASND) reached a new 52-week high on Thursday . The company traded as high as $236.25 and last traded at $226.78, with a volume of 669088 shares. The stock had previously closed at $216.66.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of Ascendis Pharma A/S from $254.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Ascendis Pharma A/S in a report on Tuesday, November 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, November 26th. JPMorgan Chase & Co. boosted 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. Finally, Wolfe Research initiated coverage on Ascendis Pharma A/S in a research note on Tuesday, November 18th. They set a “peer perform” rating and a $255.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $264.44.

Ascendis Pharma A/S Price Performance

The stock has a market cap of $14.17 billion, a price-to-earnings ratio of -51.50, a P/E/G ratio of 1.14 and a beta of 0.46. The business’s 50 day moving average is $209.53 and its 200 day moving average is $198.79.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The company had revenue of $250.71 million during the quarter, compared to analysts’ expectations of $246.91 million. As a group, analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

Several hedge funds have recently made changes to their positions in ASND. Advisory Services Network LLC purchased a new position in Ascendis Pharma A/S in the third quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth $39,000. First Horizon Advisors Inc. purchased a new position in shares of Ascendis Pharma A/S in the 2nd quarter valued at about $41,000. Jones Financial Companies Lllp increased its holdings in shares of Ascendis Pharma A/S by 57.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 83 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Ascendis Pharma A/S by 291.1% in the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 262 shares during the period.

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.