Zacks: Brokerages Expect Ascendis Pharma (ASND) Will Announce Earnings of -$0.93 Per Share

Equities analysts predict that Ascendis Pharma (NASDAQ:ASND) will announce earnings of ($0.93) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ascendis Pharma’s earnings, with the lowest EPS estimate coming in at ($1.05) and the highest estimate coming in at ($0.72). Ascendis Pharma posted earnings of ($0.83) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 12%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 22nd.

According to Zacks, analysts expect that Ascendis Pharma will report full year earnings of ($3.83) per share for the current fiscal year, with EPS estimates ranging from ($4.29) to ($2.89). For the next year, analysts anticipate that the business will post earnings of ($2.98) per share, with EPS estimates ranging from ($4.98) to $1.15. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Ascendis Pharma.

Several equities research analysts recently issued reports on the company. ValuEngine raised Ascendis Pharma from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Wedbush reissued a “top pick” rating and set a $76.00 price objective on shares of Ascendis Pharma in a research note on Friday, April 20th. Leerink Swann reissued a “market perform” rating and set a $64.00 price objective (up previously from $37.00) on shares of Ascendis Pharma in a research note on Monday, April 2nd. JPMorgan Chase lifted their price objective on Ascendis Pharma to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, March 21st. Finally, Credit Suisse Group lifted their price objective on Ascendis Pharma from $50.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, March 20th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $67.33.



A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASND. BlackRock Inc. purchased a new stake in Ascendis Pharma during the fourth quarter valued at about $17,279,000. Ascend Capital LLC purchased a new stake in Ascendis Pharma during the fourth quarter valued at about $4,992,000. University of Notre Dame DU Lac purchased a new stake in Ascendis Pharma during the fourth quarter valued at about $2,955,000. Allianz Asset Management GmbH raised its position in Ascendis Pharma by 48.1% during the fourth quarter. Allianz Asset Management GmbH now owns 178,370 shares of the biotechnology company’s stock valued at $7,145,000 after purchasing an additional 57,920 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Ascendis Pharma by 788.8% during the third quarter. Wells Fargo & Company MN now owns 30,076 shares of the biotechnology company’s stock valued at $1,090,000 after purchasing an additional 26,692 shares in the last quarter. Institutional investors and hedge funds own 73.50% of the company’s stock.

NASDAQ:ASND traded down $0.13 during trading hours on Monday, hitting $65.28. 35,316 shares of the company’s stock traded hands, compared to its average volume of 169,561. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -15.08 and a beta of 0.65. Ascendis Pharma has a 52 week low of $21.95 and a 52 week high of $69.00.

About Ascendis Pharma

Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies for unmet medical needs. The company develops TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; TransCon parathyroid hormone that is in Phase I clinical study for treating hypoparathyroidism; and TransCon C-type natriuretic peptide for the treatment of achondroplasia.

Get a free copy of the Zacks research report on Ascendis Pharma (ASND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ascendis Pharma (NASDAQ:ASND)

Receive News & Ratings for Ascendis Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ascendis Pharma and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply