Ascendis Pharma A/S (ASND)
NASDAQ:ASND
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Ascendis Pharma
(NASDAQ:ASND)
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Rating:62Neutral
Price Target:
$253.00
▲(3.48% Upside)
Action:Reiterated
Date:05/10/26
The score is driven primarily by improving operating/free cash flow and strong commercial momentum highlighted on the earnings call, tempered by meaningful balance-sheet leverage and mixed earnings quality. Technicals add support via an established uptrend, and valuation looks favorable given the low P/E.
Positive Factors
Strong commercial traction for YORVIPATH and SKYTROFA
Durable revenue base: rapid patient uptake and broadening prescriber base indicate sustainable product demand and expand recurring sales potential. Higher prescription volumes and expanding HCP coverage improve reimbursement leverage and scale benefits, supporting multi‑quarter growth in core endocrinology franchises.
Negative Factors
Elevated leverage and historic negative equity
Balance‑sheet leverage constrains financial flexibility if operating performance weakens. High debt relative to equity increases refinancing and interest risks, and prior negative equity signals accumulated losses; sustained operating setbacks could force dilutive funding or curtailed investment over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong commercial traction for YORVIPATH and SKYTROFA
Durable revenue base: rapid patient uptake and broadening prescriber base indicate sustainable product demand and expand recurring sales potential. Higher prescription volumes and expanding HCP coverage improve reimbursement leverage and scale benefits, supporting multi‑quarter growth in core endocrinology franchises.
Read all positive factors
Ascendis Pharma Key Performance Indicators (KPIs)
Any
Commercial Products Revenue
Shows the income generated from products that have reached the market, indicating the company's ability to convert R&D efforts into profitable offerings and its success in capturing market share.
Shows the income generated from products that have reached the market, indicating the company's ability to convert R&D efforts into profitable offerings and its success in capturing market share.
Data provided by:
The Fly
The FlyAscendis Pharma (ASND) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.41B
Dividend YieldN/A
Average Volume (3M)733.42K
Price to Earnings (P/E)4.8
Beta (1Y)0.69
Revenue Growth155.14%
EPS GrowthN/A
CountryUS
Employees1,017
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)8.19
Shares Outstanding62,376,846
10 Day Avg. Volume519,296
30 Day Avg. Volume733,422
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)-67.58
Price to Sales (P/S)15.90
P/FCF Ratio252.17
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue15.53
Enterprise Value/Gross Profit17.62
Enterprise Value/Ebitda-1.94K
Forecast
1Y Price Target
$301.75Price Target Upside23.43% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)12.82
Revenue Forecast (FY)$1.34B
Ascendis Pharma Business Overview & Revenue Model
Company Description
Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapeutics for unmet medical needs. The company offers SKYTROFA for treating patients with growth hormone deficiency (GHD). It also develops TransCon Growth Hormone (hGH) fo...
How the Company Makes Money
Ascendis Pharma makes money primarily by commercializing its approved prescription medicines and recognizing collaboration-related income. The company’s key revenue streams include: (1) Product sales: Revenue from selling SKYTROFA (a long-acting g...
Ascendis Pharma Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented multiple strong commercial and financial achievements—rapid revenue generation (EUR 247M Q1), robust YORVIPATH adoption (>1,000 new U.S. patients in the quarter; >6,300 cumulative), YUVIWEL FDA approval with early prescriptions, solid non-IFRS profitability and a healthy cash position augmented by a USD 187.5M PRV sale—supporting a growth and commercialization narrative. Offsetting items include one-time EUR 15M Q1 headwinds, elevated noncash finance expense (EUR 63M), GAAP net profit driven by a large deferred tax asset, rising SG&A, an R&D decline influenced by an inventory write-up, and the discontinuation of an internal oncology program. Overall, positives around product approvals, commercial traction, pipeline data (notably the COACH combo), and balance sheet actions outweigh the listed lowlights, though some one-time accounting and legal/operational uncertainties temper near-term clarity.Positive Updates
Strong Q1 Revenue and Commercial Scale
Total Q1 2026 revenue of EUR 247 million (including EUR 6 million collaboration revenue); YORVIPATH global revenue EUR 197 million and SKYTROFA EUR 44 million, supporting rapid revenue growth and commercial scale.
Negative Updates
One-Time Q1 Revenue Headwinds (~EUR 15 million)
Q1 YORVIPATH revenue was reduced by approximately EUR 15 million due to two one-time items: temporary U.S. patients supported on free drug because of reimbursement disruption and a single-country Europe Direct write-down related to an early access program.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Revenue and Commercial Scale
Total Q1 2026 revenue of EUR 247 million (including EUR 6 million collaboration revenue); YORVIPATH global revenue EUR 197 million and SKYTROFA EUR 44 million, supporting rapid revenue growth and commercial scale.
Read all positive updates
Company Guidance
Management guided that YORVIPATH should drive strong sequential growth in Q2 as the ~EUR15m combined Q1 one‑time headwinds reverse — noting Q1 YORVIPATH sales of EUR197m, >1,000 new U.S. patients in Q1 and >6,300 patients prescribed through March by >2,700 HCPs (enrollment trends continued into April, with ~80% upstream coverage and >50% approvals within 8 weeks); SKYTROFA (EUR44m in Q1, ~7% market share) is expected to deliver stable revenue for the year, and YUVIWEL’s early uptake (>60 prescriptions by >35 HCPs) is encouraging with more color on the Q2 call and an EU decision expected in Q4’26. On the financial outlook, management said revenue scaling should produce meaningful operating‑margin improvement in 2026 and beyond; Q1 results included total revenue EUR247m (EUR6m collaboration), operating profit EUR25m (10% IFRS margin), non‑IFRS operating profit EUR55m (22% margin), non‑IFRS net profit EUR18m (EUR0.27/share), R&D EUR59m and SG&A EUR145m, and a quarter‑end cash balance of EUR573m (after EUR60m buybacks); they also completed redemption of convertible notes in May and announced a PRV sale for USD187.5m.Ascendis Pharma Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
34
Negative
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 867.51M | 691.71M | 363.64M | 266.72M | 51.17M | 7.78M |
| Gross Profit | 764.89M | 588.53M | 319.38M | 222.32M | 39.04M | 4.25M |
| EBITDA | -6.94M | -113.90M | -290.02M | -411.17M | -529.18M | -364.64M |
| Net Income | 506.60M | -219.03M | -378.08M | -481.45M | -583.19M | -383.58M |
Balance Sheet | ||||||
| Total Assets | 2.01B | 1.30B | 1.18B | 825.59M | 1.09B | 1.08B |
| Cash, Cash Equivalents and Short-Term Investments | 573.42M | 615.78M | 559.54M | 399.44M | 735.46M | 682.06M |
| Total Debt | 897.60M | 871.41M | 856.62M | 743.06M | 617.57M | 209.92M |
| Total Liabilities | 1.52B | 1.46B | 1.29B | 971.28M | 826.39M | 201.29M |
| Stockholders Equity | 488.48M | -162.75M | -105.71M | -145.70M | 263.35M | 883.63M |
Cash Flow | ||||||
| Free Cash Flow | 42.11M | 43.62M | -307.62M | -469.80M | -510.19M | -441.88M |
| Operating Cash Flow | 57.63M | 51.77M | -306.20M | -467.36M | -495.70M | -417.65M |
| Investing Cash Flow | -14.55M | -8.15M | 6.88M | 286.47M | 61.73M | -110.58M |
| Financing Cash Flow | 16.75M | 34.89M | 443.93M | 134.29M | 396.77M | 351.39M |
Ascendis Pharma Technical Analysis
Positive
244.48
Price Trends
232.80
Positive
228.56
Positive
215.55
Positive
Market Momentum
3.04
Negative
51.86
Neutral
71.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASND, the sentiment is Positive. The current price of 244.48 is above the 20-day moving average (MA) of 236.22, above the 50-day MA of 232.80, and above the 200-day MA of 215.55, indicating a bullish trend. The MACD of 3.04 indicates Negative momentum. The RSI at 51.86 is Neutral, neither overbought nor oversold. The STOCH value of 71.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASND.
Ascendis Pharma Risk Analysis
Ascendis Pharma disclosed 93 risk factors in its most recent earnings report. Ascendis Pharma reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ascendis Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | $12.61B | 13.46 | 40.21% | ― | 3.33% | 38.64% | |
79 Outperform | $24.13B | 23.46 | 19.24% | ― | 5.87% | 8.18% | |
70 Outperform | $10.45B | 25.76 | 4.41% | ― | 12.53% | -49.09% | |
62 Neutral | $15.41B | 4.77 | -5641.90% | ― | 155.14% | ― | |
53 Neutral | $13.54B | -22.04 | 36.00% | ― | 355.17% | -6.09% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $11.93B | -40.25 | -50.15% | ― | 256.82% | 29.06% |
* Healthcare Sector Average
ASND
Ascendis Pharma
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Ascendis Pharma Corporate Events
Ascendis Pharma Swings to €629 Million Q1 2026 Profit on Strong Revenue Growth
May 7, 2026
Ascendis Pharma A/S on May 7, 2026 filed a Form 6-K reporting unaudited condensed consolidated interim financial statements for the quarter ended March 31, 2026, along with management’s discussion and analysis. The company posted a sharp tur...
Ascendis Pharma Q1 2026 Results Highlight YORVIPATH Growth and U.S. Launch of YUVIWEL
May 7, 2026
Ascendis Pharma reported first-quarter 2026 revenue of €247 million, driven largely by €197 million in YORVIPATH sales and €44 million from SKYTROFA, with strong U.S. uptake and expanding reimbursement in 35 countries as of March...
Ascendis Pharma Calls Full Redemption of $575 Million 2028 Convertible Notes After Share Price Surge
Apr 21, 2026
Ascendis Pharma A/S has moved to redeem all $575 million of its 2.25% Convertible Senior Notes due 2028, setting May 6, 2026 as the redemption date after its share price exceeded the trigger threshold on at least 20 trading days in the 30-day peri...
Ascendis Pharma Updates ISIN for Nasdaq-Listed Ordinary Shares
Apr 21, 2026
On April 21, 2026, Ascendis Pharma filed a Form 6-K announcing a technical update related to its Nasdaq-listed ordinary shares. The company clarified that, following its direct listing of ordinary shares on The Nasdaq Global Select Market, the cor...
Ascendis Pharma Completes ADS-to-Ordinary Share Conversion and Begins Direct Nasdaq Trading
Apr 20, 2026
On April 20, 2026, Ascendis Pharma began trading its ordinary shares directly on the Nasdaq Global Select Market, replacing its prior listing of American Depositary Shares while keeping the ASND ticker, CUSIP K08588103 and ISIN DK0060606333. The s...
Ascendis Pharma Issues New Employee Warrants as Part of Long-Term Incentive Program
Apr 16, 2026
On April 14, 2026, Ascendis Pharma’s board granted 32,310 warrants to certain employees, each entitling the holder to subscribe for one ordinary share at an exercise price of $249.84, matching the closing price of its American Depositary Sha...
Ascendis Pharma Reports Strong Week 52 COACH Trial Data for TransCon CNP and hGH Combo in Achondroplasia
Apr 8, 2026
On April 8, 2026, Ascendis Pharma reported new Week 52 data from its Phase 2 COACH trial evaluating once-weekly combination therapy with TransCon CNP and TransCon hGH in children with achondroplasia. The results build on previously disclosed growt...
Ascendis Pharma to Replace ADSs With Direct Ordinary Share Listing on Nasdaq
Apr 8, 2026
On April 8, 2026, Ascendis Pharma announced it will transition from trading American Depositary Shares to a direct listing of its ordinary shares on The Nasdaq Global Select Market. The company expects the change to become effective at the opening...
Ascendis Pharma Secures U.S. Orphan Drug Exclusivity and Launches YUVIWEL for Achondroplasia
Apr 7, 2026
On April 6, 2026, Ascendis Pharma announced that the U.S. Food and Drug Administration granted orphan drug exclusivity to YUVIWEL (navepegritide), developed as TransCon CNP, and that the therapy is now commercially available in the United States. ...
Ascendis Pharma Expands Share Capital Following March 30 Warrant Exercises
Mar 30, 2026
Ascendis Pharma A/S reported that on March 30, 2026, the exercise window for its outstanding warrants on ordinary shares closed, resulting in the issuance of 399,438 new shares. These exercises increased the company’s nominal share capital b...
Ascendis Pharma Shareholders Back Board, Loss Carryforward and New Buyback Mandate at 2026 AGM
Mar 24, 2026
On March 23, 2026, Ascendis Pharma held its Annual General Meeting in Denmark, with 90.16% of outstanding ordinary shares represented, and shareholders approved the audited annual report for 2025 while discharging the board and management from lia...
Ascendis Pharma Posts Positive Phase 2 Results for Once-Weekly TransCon hGH in Turner Syndrome
Mar 17, 2026
On March 17, 2026, Ascendis Pharma reported positive Week 52 topline data from its New InsiGHTS Phase 2 trial in the U.S. evaluating once-weekly TransCon hGH versus daily somatropin in prepubertal children aged 1 to 10 with Turner syndrome. Childr...
Ascendis Pharma Reports Two-Year Data Showing Sustained Benefits of YUVIWEL in Children With Achondroplasia
Mar 16, 2026
On March 16, 2026, Ascendis Pharma reported new two-year data from its pivotal ApproaCH trial in children with achondroplasia treated with once-weekly TransCon CNP, showing sustained gains in growth through Week 104 and further improvements in bod...
Ascendis Pharma Wins FDA Accelerated Approval for YUVIWEL in Pediatric Achondroplasia
Mar 2, 2026
On February 27, 2026, Ascendis Pharma announced that the U.S. Food Drug Administration granted accelerated approval for YUVIWEL (navepegritide; developed as TransCon CNP), the first and only once-weekly treatment to increase linear growth in chil...
Ascendis Pharma Sets March 23 AGM to Approve 2025 Results, Board Changes and Buyback Mandate
Feb 23, 2026
Ascendis Pharma has called its 2026 annual general meeting for March 23, 2026 in Copenhagen, where shareholders will review the company’s activities in 2025, approve the audited annual report and sustainability and P-ESG report for the year ...
Ascendis Pharma Posts Strong 2025 Results as YORVIPATH Drives Growth and TransCon Pipeline Advances
Feb 11, 2026
Ascendis Pharma reported on February 11, 2026 that fourth-quarter 2025 product revenue reached €240 million and full-year 2025 product revenue €684 million, driven mainly by YORVIPATH, while SKYTROFA contributed €206 million for ...
Ascendis Pharma Grants New Employee Warrants, Updates Articles to Support Future Equity Issuances
Feb 11, 2026
On February 10, 2026, Ascendis Pharma’s board granted 16,570 new employee warrants, each giving the right to subscribe for one ordinary share at an exercise price of $224.19, matching the closing price of its American depositary shares on th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.