Ascendis Pharma A/S Expected to Earn FY2024 Earnings of ($4.00) Per Share (NASDAQ:ASND)

Ascendis Pharma A/S (NASDAQ:ASND) – Analysts at Cantor Fitzgerald raised their FY2024 earnings per share (EPS) estimates for shares of Ascendis Pharma A/S in a note issued to investors on Tuesday, July 23rd. Cantor Fitzgerald analyst L. Watsek now expects that the biotechnology company will post earnings of ($4.00) per share for the year, up from their prior estimate of ($4.39). Cantor Fitzgerald has a “Overweight” rating and a $173.00 price objective on the stock. The consensus estimate for Ascendis Pharma A/S’s current full-year earnings is ($5.57) per share.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($2.48) EPS for the quarter, missing the consensus estimate of ($1.57) by ($0.91). Ascendis Pharma A/S had a negative net margin of 152.68% and a negative return on equity of 16,574.15%. The business had revenue of $103.11 million for the quarter, compared to analysts’ expectations of $85.72 million.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Stifel Nicolaus initiated coverage on Ascendis Pharma A/S in a research note on Friday, May 31st. They set a “buy” rating and a $200.00 price objective for the company. TD Cowen upgraded Ascendis Pharma A/S from a “hold” rating to a “buy” rating and boosted their price objective for the company from $156.00 to $175.00 in a research note on Tuesday, June 25th. JPMorgan Chase & Co. boosted their price objective on Ascendis Pharma A/S from $167.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price objective on Ascendis Pharma A/S from $260.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Ascendis Pharma A/S Stock Down 0.6 %

NASDAQ ASND opened at $134.01 on Thursday. Ascendis Pharma A/S has a 52 week low of $85.29 and a 52 week high of $161.00. The company has a 50-day moving average price of $132.35 and a 200-day moving average price of $139.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASND. Vestal Point Capital LP bought a new position in shares of Ascendis Pharma A/S during the 4th quarter valued at approximately $78,719,000. Price T Rowe Associates Inc. MD raised its holdings in Ascendis Pharma A/S by 23.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,781,926 shares of the biotechnology company’s stock valued at $269,374,000 after buying an additional 336,976 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Ascendis Pharma A/S by 20.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,519,219 shares of the biotechnology company’s stock valued at $191,346,000 after buying an additional 254,749 shares during the period. Acadian Asset Management LLC raised its holdings in Ascendis Pharma A/S by 1,461.1% during the 1st quarter. Acadian Asset Management LLC now owns 250,492 shares of the biotechnology company’s stock valued at $37,849,000 after buying an additional 234,446 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in Ascendis Pharma A/S by 6.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,030,634 shares of the biotechnology company’s stock valued at $507,658,000 after buying an additional 228,457 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.