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Ascendis Pharma A/S (ASND) - free report >>
CollPlant Biotechnologies Ltd. Sponsored ADR (CLGN) - free report >>
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Ascendis Pharma A/S (ASND) - free report >>
CollPlant Biotechnologies Ltd. Sponsored ADR (CLGN) - free report >>
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Ascendis Pharma (ASND) Surges 8.7%: Is This an Indication of Further Gains?
Ascendis Pharma A/S (ASND - Free Report) shares rallied 8.7% in the last trading session to close at $139.66. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% loss over the past four weeks.
Earlier this week, the FDA approved the company’s hormone replacement therapy, Yorvipath (palopegteriparatide; developed as TransCon PTH) for the treatment of adults with hypoparathyroidism. This might have driven the share price rally.
This company is expected to post quarterly loss of $1.51 per share in its upcoming report, which represents a year-over-year change of +35.7%. Revenues are expected to be $95.8 million, up 85.7% 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.
For Ascendis Pharma, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, CollPlant Biotechnologies Ltd. Sponsored ADR (CLGN - Free Report) , closed the last trading session 0.2% lower at $4.44. Over the past month, CLGN has returned -12.1%.
CollPlant Biotechnologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.35. Compared to the company's year-ago EPS, this represents a change of -171.4%. CollPlant Biotechnologies currently boasts a Zacks Rank of #3 (Hold).