Ascendis Pharma A/S (NASDAQ:ASND) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Ascendis Pharma A/S (NASDAQ:ASND)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $227.04 and traded as high as $231.25. Ascendis Pharma A/S shares last traded at $228.73, with a volume of 573,470 shares traded.

Analyst Ratings Changes

ASND has been the subject of a number of analyst reports. Wedbush increased their target price on shares of Ascendis Pharma A/S from $240.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $255.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Stifel Nicolaus set a $332.00 price target on Ascendis Pharma A/S in a research report on Wednesday, March 4th. Wolfe Research reiterated an “outperform” rating and set a $260.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Finally, Royal Bank Of Canada raised their price objective on Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.89.

Ascendis Pharma A/S Trading Up 4.8%

The company’s 50-day moving average is $227.04 and its 200 day moving average is $213.34. The stock has a market capitalization of $14.25 billion, a PE ratio of -51.98 and a beta of 0.43.

Ascendis Pharma A/S (NASDAQ:ASND) last released its earnings results on Thursday, February 12th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The business had revenue of $290.38 million for the quarter, compared to the consensus estimate of $285.35 million. Sell-side 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

Several hedge funds have recently made changes to their positions in ASND. Advisory Services Network LLC purchased a new position in Ascendis Pharma A/S in the 3rd quarter worth $26,000. Arax Advisory Partners grew its stake in Ascendis Pharma A/S by 212.2% during the 4th quarter. Arax Advisory Partners now owns 153 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at about $36,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at about $42,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Ascendis Pharma A/S by 57.2% in the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 83 shares during the last quarter.

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.