Ascendis Pharma A/S (NASDAQ:ASND) Sets New 1-Year High – What’s Next?

Ascendis Pharma A/S (NASDAQ:ASND)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $275.00 and last traded at $274.7360, with a volume of 164042 shares changing hands. The stock had previously closed at $266.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ASND shares. Jefferies Financial Group began coverage on shares of Ascendis Pharma A/S in a research report on Monday, March 16th. They issued a “buy” rating and a $290.00 target price on the stock. Citigroup initiated coverage on shares of Ascendis Pharma A/S in a research note on Monday, May 18th. They set a “buy” rating and a $355.00 price objective on the stock. Evercore reaffirmed an “outperform” rating and set a $329.00 target price on shares of Ascendis Pharma A/S in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Royal Bank Of Canada boosted their price target on Ascendis Pharma A/S from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $295.67.

Ascendis Pharma A/S Trading Up 2.6%

The company has a market cap of $17.09 billion, a P/E ratio of 31.64 and a beta of 0.37. The stock’s 50 day moving average is $236.91 and its 200-day moving average is $228.79. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.11. The firm had revenue of $285.45 million for the quarter, compared to the consensus estimate of $362.47 million. Research analysts anticipate that Ascendis Pharma A/S will post 4.55 earnings per share for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $238.49, for a total transaction of $4,641,015.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime bought 400 shares of Ascendis Pharma A/S stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $237.80 per share, with a total value of $95,120.00. Following the acquisition, the director owned 400 shares in the company, valued at approximately $95,120. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 40.00% of the company’s stock.

Institutional Trading of Ascendis Pharma A/S

A number of institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Ascendis Pharma A/S during the third quarter valued at approximately $26,000. Arax Advisory Partners grew its position in Ascendis Pharma A/S by 212.2% in the 4th quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 104 shares during the period. Leonteq Securities AG purchased a new stake in Ascendis Pharma A/S during the 4th quarter valued at $36,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ascendis Pharma A/S during the 4th quarter valued at $42,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Ascendis Pharma A/S by 111.9% during the 4th quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 113 shares during the period.

About Ascendis Pharma A/S

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.