Ascendis Pharma A/S (NASDAQ:ASND) Releases Quarterly Earnings Results, Misses Expectations By $0.68 EPS

Ascendis Pharma A/S (NASDAQ:ASND) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.68), Zacks reports.

Ascendis Pharma A/S Stock Down 1.0%

Shares of NASDAQ ASND traded down $1.94 during midday trading on Wednesday, reaching $199.22. 666,119 shares of the company were exchanged, compared to its average volume of 474,590. The stock’s 50-day moving average price is $201.74 and its 200-day moving average price is $184.05. The stock has a market cap of $12.29 billion, a P/E ratio of -38.61 and a beta of 0.44. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ASND shares. Cantor Fitzgerald increased their price objective on shares of Ascendis Pharma A/S from $203.00 to $254.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Raymond James Financial assumed coverage on shares of Ascendis Pharma A/S in a report on Friday, October 17th. They set a “strong-buy” rating and a $271.00 price target for the company. UBS Group reissued a “buy” rating and issued a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of 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, Wedbush raised their target price on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Institutional Investors Weigh In On Ascendis Pharma A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Ascendis Pharma A/S in the second quarter valued at about $206,000. Rhumbline Advisers increased its stake 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 buying an additional 55 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Ascendis Pharma A/S by 23.5% in the second quarter. Diversify Advisory Services LLC now owns 2,458 shares of the biotechnology company’s stock valued at $424,000 after buying an additional 467 shares during the period. Cetera Investment Advisers bought a new position in Ascendis Pharma A/S in the 2nd quarter valued at approximately $552,000. Finally, Daiwa Securities Group Inc. boosted its position in Ascendis Pharma A/S by 66.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,737 shares of the biotechnology company’s stock worth $645,000 after buying an additional 1,488 shares during the period.

About Ascendis Pharma A/S

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.