Ascendis Pharma A/S
- Open
- 275.43
- Day high
- 276.91
- Day low
- 267.85
- Prev close
- 275.43
- Volume
- 375K
- Mkt cap
- $16.7B
- P/E (TTM)
- 28.9
- EPS (TTM)
- $9.36
- P/B
- 29.9
- P/S
- 16.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$4.4M over the last 3 months (5 open-market buys, 1 sale)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Ascendis Pharma A/S (ASND) is a Healthcare company listed on NASDAQ. The stock is up 56% over the past year. Over the trailing 3 months, insiders filed 5 open-market buys and 1 sale (SEC Form 4).
Ascendis Pharma A/S (ASND) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ASND earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.21 | $0.32 | +52.4% | $334M | -7.8% |
| Feb 11, 2026 | $-0.06 | $-0.64 | -966.7% | $288M | -1.5% |
| Nov 12, 2025 | $-0.41 | $-1.17 | -185.4% | $250M | -17.3% |
| Aug 7, 2025 | $-1.42 | $-0.93 | +34.5% | $186M | -20.2% |
| May 1, 2025 | $-1.56 | $-1.66 | -6.4% | $111M | -27.9% |
| Feb 12, 2025 | $-1.20 | $-0.68 | +43.3% | $180M | +43.6% |
| Nov 14, 2024 | $-1.83 | $-1.81 | +1.1% | $63M | -14.4% |
| Sep 3, 2024 | $-1.54 | $-2.05 | -33.1% | $39M | +3.0% |
| May 2, 2024 | $-1.62 | $-2.48 | -53.3% | $103M | +11.5% |
| Feb 7, 2024 | $-2.19 | $-1.66 | +24.1% | $151M | +36.3% |
| Aug 16, 2023 | $-3.09 | $-1.54 | +50.2% | $52M | — |
| Apr 27, 2023 | $-2.93 | $-2.18 | +25.6% | $37M | +41.6% |
ASND insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | SMITH SCOTT THOMASofficer: EVP & Chief Financial Officer | Buy | 100 | $219.00 |
| Jun 1, 2026 | BIENAIME JEAN JACQUESdirector | Buy | 200 | $223.76 |
| Jun 1, 2026 | BIENAIME JEAN JACQUESdirector | Buy | 100 | $223.50 |
| Jun 1, 2026 | SMITH SCOTT THOMASofficer: EVP & Chief Financial Officer | Buy | 250 | $223.32 |
| May 27, 2026 | BIENAIME JEAN JACQUESdirector | Buy | 200 | $236.24 |
| May 12, 2026 | JENSEN FLEMMING STEENofficer: See Remarks | Sell | 19,460 | $238.49 |
Source: ASND SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full ASND insider & 13F page →Ascendis Pharma A/S company profile
Overview
Ascendis Pharma A/S (NASDAQ:ASND) is a Danish biopharmaceutical company founded in 2006 and headquartered in Hellerup, Denmark. The company went public on NASDAQ in January 2015. Ascendis specializes in developing innovative therapeutics for rare endocrine diseases using its proprietary TransCon technology platform, which enables the creation of long-acting versions of existing drugs. The company has successfully commercialized two products and maintains a robust pipeline of treatments targeting unmet medical needs in endocrinology and oncology.
Business
Ascendis Pharma operates in the biotechnology sector, specifically focusing on rare disease therapeutics within endocrinology. The company's core innovation is its TransCon technology platform, which stands for "transient conjugation." This proprietary drug delivery system allows existing therapeutic proteins to be modified so they release the active drug slowly over extended periods, transforming daily injections into weekly or monthly treatments. The company's business consists of two main commercial products and a development pipeline: 1. SKYTROFA (lonapegsomatropin) generates approximately 75% of revenue and treats growth hormone deficiency in children. This once-weekly injection replaces daily growth hormone shots that children typically require for years. The product addresses pediatric growth hormone deficiency, a condition affecting thousands of children who lack sufficient natural growth hormone production. 2. YORVIPATH (palopegteriparatide) represents about 25% of revenue and treats hypoparathyroidism in adults. This condition occurs when the parathyroid glands don't produce enough parathyroid hormone, leading to dangerously low calcium levels. YORVIPATH provides the first hormone replacement therapy for this rare disease, offering once-daily dosing compared to multiple daily calcium and vitamin D supplements. The development pipeline includes TransCon CNP for achondroplasia (the most common form of dwarfism), adult growth hormone deficiency treatments, and oncology programs using the TransCon platform to deliver cancer immunotherapies. The company operates primarily in the United States and Europe, with expansion planned for additional markets.
Revenue model
Ascendis generates revenue primarily through product sales of its approved therapeutics to specialty pharmacies and hospitals, who then dispense to patients. The company targets rare disease markets where patients typically have comprehensive insurance coverage, enabling premium pricing for innovative treatments. SKYTROFA commands approximately 3x the net value per patient compared to daily growth hormone products, with the company achieving roughly €200 million in annual revenue from this product alone. The growth hormone market benefits from long treatment durations, as children typically require therapy for multiple years until reaching adult height. YORVIPATH is priced at $285,000 annually per patient in the US market, reflecting its status as the only hormone replacement therapy for hypoparathyroidism. The company targets approximately 70,000-100,000 potential patients globally with this condition. Revenue growth depends on several key factors. Positive drivers include expanding market penetration as physicians become familiar with long-acting alternatives, label expansions to new patient populations (such as adult growth hormone deficiency), and geographic expansion to new markets. The company benefits from the consolidation occurring in the growth hormone market, as competitors reduce investment in daily formulations. Margin pressures could arise from increased competition as other companies develop long-acting alternatives, pricing pressure from payers seeking cost containment, and the substantial ongoing investment required for clinical trials and regulatory submissions. Manufacturing scale-up costs and the need to maintain specialized commercial teams for rare disease markets also impact profitability. The company's path to profitability depends heavily on achieving sufficient patient penetration across its product portfolio while managing R&D expenses.
Competitive moat
Ascendis possesses a moderate but strengthening competitive moat built primarily around its proprietary TransCon technology platform and rare disease market positioning. The company's core competitive advantage lies in its technology platform, which enables the creation of long-acting versions of existing therapeutic proteins through a novel transient conjugation mechanism. This platform has proven successful across multiple drug classes and provides a foundation for future product development. In the growth hormone market, SKYTROFA benefits from being the only once-weekly unmodified growth hormone product available, offering significant convenience advantages over daily injections. The product's room temperature stability and auto-injector design create additional differentiation. For YORVIPATH, the moat is stronger as it represents the first and only hormone replacement therapy for hypoparathyroidism, addressing a clear unmet medical need with no direct competition. The company's rare disease focus provides natural barriers to entry, as these markets require specialized clinical expertise, regulatory knowledge, and commercial capabilities. The high cost and complexity of conducting clinical trials in rare diseases, combined with the need for specialized sales forces, creates meaningful hurdles for potential competitors. However, the moat faces several potential threats. Large pharmaceutical companies with greater resources could develop competing long-acting formulations using different technologies. The TransCon platform, while innovative, is not impossible to replicate or circumvent through alternative approaches. In growth hormone specifically, established players like Novo Nordisk and Pfizer have the resources to develop competing long-acting products. Additionally, the company's reliance on rare disease markets means that any successful competitor could significantly impact revenue given the limited patient populations. The oncology applications of TransCon technology face intense competition from numerous immunotherapy approaches being developed by well-funded biotechnology and pharmaceutical companies.
Risks & safety
Ascendis presents a moderate margin of safety with improving fundamentals but ongoing cash burn concerns. • Liquidity position: €581 million in cash and short-term investments as of Q4 2024, providing approximately 1.5-2 years of runway at current burn rates • Cash burn: Operating cash flow negative €318 million for 2024, though management targets breakeven by end of 2025 • Debt levels: Negative shareholders' equity of €110 million, indicating liabilities exceed assets, though this includes substantial milestone obligations • Current ratio: 1.17x indicates adequate short-term liquidity coverage • Revenue growth: Strong trajectory with €378 million in 2024 revenue, up significantly from €287 million in 2023 • Valuation metrics: Trading at negative EV/EBITDA due to current losses, but revenue multiples appear reasonable for a growing biotech • Market position: Established commercial products provide revenue foundation, reducing binary clinical risk compared to pure development-stage biotechs • Regulatory risk: Approved products reduce regulatory uncertainty, though pipeline programs still face approval risks
Recent development
Over the past few years, Ascendis has executed a strategic transformation from a development-stage biotechnology company to a commercial-stage rare disease specialist. The company successfully launched SKYTROFA in the US market, achieving rapid uptake and capturing approximately 6.5% of the total growth hormone market by 2024. This represented a significant commercial milestone, demonstrating the market's acceptance of long-acting growth hormone therapy. The company expanded its commercial footprint with the European launch of YORVIPATH in Germany and Austria, followed by US FDA approval and launch in late 2024. This second product launch validates Ascendis's ability to successfully commercialize multiple rare disease treatments and diversifies its revenue base beyond growth hormone. Pipeline advancement has been substantial, with TransCon CNP for achondroplasia completing pivotal trials and preparing for regulatory submission in Q1 2025. The company is also pursuing label expansions for existing products, including adult growth hormone deficiency for SKYTROFA, which could significantly expand the addressable market. A major strategic development was the collaboration with Novo Nordisk announced in 2024, applying TransCon technology to develop a once-monthly GLP-1 agonist for obesity and diabetes. This partnership, which included a $100 million upfront payment, demonstrates the broader potential of the TransCon platform beyond rare diseases and provides validation from a leading pharmaceutical company. The company has also streamlined operations and focused resources on its core endocrinology franchise while maintaining selected oncology programs. This strategic focus, combined with improving commercial execution, has positioned Ascendis to target operating cash flow breakeven by the end of 2025, marking a significant inflection point in the company's financial trajectory.
ASND company profile · for informational purposes only — not investment advice.
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