Ascendis Pharma A/S (NASDAQ:ASND) Hits New 1-Year High – Here’s Why

Ascendis Pharma A/S (NASDAQ:ASND) hit a new 52-week high during trading on Thursday . The stock traded as high as $272.54 and last traded at $269.8940, with a volume of 17050 shares trading hands. The stock had previously closed at $267.79.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ASND shares. Evercore reaffirmed an “outperform” rating and set a $329.00 price target on shares of Ascendis Pharma A/S in a research report on Friday, May 15th. Citigroup initiated coverage on Ascendis Pharma A/S in a report on Monday, May 18th. They issued a “buy” rating and a $355.00 price objective for the company. Wall Street Zen raised shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their target price on shares of Ascendis Pharma A/S from $342.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group started coverage on shares of Ascendis Pharma A/S in a report on Monday, March 16th. They set a “buy” rating and a $290.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $295.39.

Ascendis Pharma A/S Stock Performance

The company has a market cap of $17.12 billion, a price-to-earnings ratio of 31.66 and a beta of 0.37. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average price is $235.29 and its 200-day moving average price is $227.84.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.11. The company had revenue of $285.45 million during the quarter, compared to analyst estimates of $362.47 million. On average, equities analysts anticipate that Ascendis Pharma A/S will post 4.55 EPS for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In other news, Director Jean Jacques Bienaime purchased 400 shares of Ascendis Pharma A/S stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the purchase, the director directly owned 400 shares of the company’s stock, valued at $95,120. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Flemming Steen Jensen sold 19,460 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $238.49, for a total value of $4,641,015.40. The SEC filing for this sale provides additional information. 40.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ascendis Pharma A/S

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company’s stock valued at $249,000 after acquiring an additional 55 shares during the period. Certuity LLC increased its position in Ascendis Pharma A/S by 5.7% during the fourth quarter. Certuity LLC now owns 1,170 shares of the biotechnology company’s stock worth $249,000 after acquiring an additional 63 shares during the period. Personal CFO Solutions LLC raised its stake in Ascendis Pharma A/S by 4.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the biotechnology company’s stock worth $347,000 after purchasing an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Ascendis Pharma A/S by 34.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 272 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 69 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Ascendis Pharma A/S by 15.1% in the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company’s stock valued at $117,000 after purchasing an additional 72 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.