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Ascendis Pharma A/S (ASND) Soars 8.5%: Is Further Upside Left in the Stock?

Zacks Equity Research
Updated ·2 min read

Ascendis Pharma A/S ASND shares soared 8.5% in the last trading session to close at $80.18. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 31.3% loss over the past four weeks.

The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is significantly progressing across pipelines with its TransCon technology in late-stage clinical studies to treat endocrinology rare diseases.

This company is expected to post quarterly loss of $2.84 per share in its upcoming report, which represents a year-over-year change of -14.5%. Revenues are expected to be $23.95 million, up 212.6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Ascendis Pharma A/S, the consensus EPS estimate for the quarter has been revised 5.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ASND going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Ascendis Pharma A/S belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Amarin AMRN, closed the last trading session 2.9% higher at $1.42. Over the past month, AMRN has returned -11%.

Amarin's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. Compared to the company's year-ago EPS, this represents a change of +100%. Amarin currently boasts a Zacks Rank of #3 (Hold).

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Zacks Investment Research