Ascendis Pharma A/S (NASDAQ:ASND) Hits New 52-Week High – Here’s What Happened

Ascendis Pharma A/S (NASDAQ:ASND)’s share price reached a new 52-week high on Monday . The company traded as high as $250.74 and last traded at $246.1450, with a volume of 100005 shares traded. The stock had previously closed at $239.28.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $255.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. TD Cowen reissued a “buy” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, January 7th. Oppenheimer raised their price objective on Ascendis Pharma A/S from $246.00 to $262.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Bank of America reaffirmed a “buy” rating and set a $262.00 price target on shares of Ascendis Pharma A/S in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $289.89.

Ascendis Pharma A/S Trading Up 1.9%

The stock has a 50-day simple moving average of $227.49 and a 200 day simple moving average of $215.28. The company has a market cap of $15.22 billion, a price-to-earnings ratio of -55.44 and a beta of 0.49.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings results on Thursday, February 12th. The biotechnology company reported ($0.64) EPS 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. As a group, research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Ascendis Pharma A/S

Institutional investors have recently modified their holdings of the stock. HighVista Strategies LLC raised its stake in shares of Ascendis Pharma A/S by 138.1% during the 3rd quarter. HighVista Strategies LLC now owns 7,082 shares of the biotechnology company’s stock valued at $1,408,000 after buying an additional 4,108 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Ascendis Pharma A/S by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 544,606 shares of the biotechnology company’s stock valued at $108,274,000 after buying an additional 13,797 shares during the last quarter. Sector Gamma AS raised its stake in shares of Ascendis Pharma A/S by 43.1% during the 3rd quarter. Sector Gamma AS now owns 24,327 shares of the biotechnology company’s stock valued at $4,836,000 after buying an additional 7,327 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Ascendis Pharma A/S by 2,722.9% during the 3rd quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock valued at $157,791,000 after buying an additional 765,561 shares during the last quarter. Finally, Braun Stacey Associates Inc. purchased a new position in shares of Ascendis Pharma A/S during the 3rd quarter valued at about $18,678,000.

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.