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

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report)'s share price gapped up prior to trading 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.

The biotechnology company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.32) by $0.64.

Analysts Set New Price Targets

ASND has been the subject of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $170.00 price target on shares of Ascendis Pharma A/S in a research report on Tuesday, February 11th. Wedbush reissued an "outperform" rating and issued a $181.00 target price on shares of Ascendis Pharma A/S in a report on Friday, November 15th. UBS Group started coverage on Ascendis Pharma A/S in a research note on Tuesday, January 7th. They issued a "buy" rating and a $196.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Ascendis Pharma A/S from $167.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $193.43.

Hedge Funds Weigh In On Ascendis Pharma A/S

Large investors have recently modified their holdings of the business. Signaturefd LLC raised its position in Ascendis Pharma A/S by 13.2% in the third quarter. Signaturefd LLC now owns 686 shares of the biotechnology company's stock worth $102,000 after acquiring an additional 80 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of Ascendis Pharma A/S by 3.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,676 shares of the biotechnology company's stock valued at $368,000 after purchasing an additional 100 shares in the last quarter. Legato Capital Management LLC increased its holdings in shares of Ascendis Pharma A/S by 7.5% in the 4th quarter. Legato Capital Management LLC now owns 1,921 shares of the biotechnology company's stock valued at $264,000 after purchasing an additional 134 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Ascendis Pharma A/S by 394.0% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 197 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Ascendis Pharma A/S in the 3rd quarter valued at about $30,000.

Ascendis Pharma A/S Stock Up 1.1 %

The stock's fifty day simple moving average is $132.41 and its 200-day simple moving average is $132.34. The company has a market capitalization of $8.74 billion, a PE ratio of -17.83 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.