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

Shares of Ascendis Pharma A/S (NASDAQ:ASND) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 trading hands.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on ASND shares. Oppenheimer reduced their price objective on shares of Ascendis Pharma A/S from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $170.00 target price on shares of Ascendis Pharma A/S in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Ascendis Pharma A/S from $167.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $181.00 price objective on shares of Ascendis Pharma A/S in a research note on Friday, November 15th. Finally, UBS Group initiated coverage on shares of Ascendis Pharma A/S in a research note on Tuesday, January 7th. They set a “buy” rating and a $196.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ascendis Pharma A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.43.

Institutional Trading of Ascendis Pharma A/S

Several institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Ascendis Pharma A/S during the third quarter worth about $30,000. Jones Financial Companies Lllp increased its stake in Ascendis Pharma A/S by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company’s stock worth $34,000 after buying an additional 197 shares during the period. Blue Trust Inc. increased its stake in Ascendis Pharma A/S by 415.2% during the 4th quarter. Blue Trust Inc. now owns 407 shares of the biotechnology company’s stock worth $56,000 after buying an additional 328 shares during the period. Groupama Asset Managment purchased a new stake in Ascendis Pharma A/S during the 3rd quarter worth approximately $60,000. Finally, GAMMA Investing LLC increased its stake in Ascendis Pharma A/S by 58.0% during the 4th quarter. GAMMA Investing LLC now owns 583 shares of the biotechnology company’s stock worth $80,000 after buying an additional 214 shares during the period.

Ascendis Pharma A/S Stock Performance

The firm’s 50 day moving average is $132.19 and its two-hundred day moving average is $132.29. The stock has a market capitalization of $8.65 billion, a PE ratio of -17.63 and a beta of 0.64.

Ascendis Pharma A/S Company Profile

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.