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Ascendis Pharma (ASND)
NASDAQ:ASND
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Ascendis Pharma
(NASDAQ:ASND)
52Neutral
Positive Factors
Clinical Benefits
Quality of life improvement provides the strongest evidence for Yorvipath’s efficacy according to clinical trials.
Financial Performance
Yorvipath's 1Q25 revenue of €44.7M exceeded consensus of €31.1M, indicating strong market demand.
Market Adoption
Yorvi's US launch logged 1,750 start forms from approximately 1,000 unique prescribers, indicating rapid uptake and widespread adoption.
Negative Factors
Product Competition
A more conveniently dosed option is desired by over 50% of key opinion leaders, indicating a potential area for product improvement.
Regulatory Challenges
Shifts in regulatory landscape have made management less sure about priority review for TransCon CNP.
Revenue Performance
Skytrofa €51M Q1 revs missed estimates due to seasonal headwinds, soft pricing, and destocking.
Ascendis Pharma (ASND) vs. S&P 500 (SPY)
Market Cap
$10.30B
Dividend YieldN/A
Average Volume (3M)548.81K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth36.09%
EPS Growth22.96%
CountryUS
Employees1,017
SectorHealthcare
Sector Strength57
IndustryBiotechnology
Share Statistics
EPS (TTM)-7.13
Shares Outstanding60,689,487
10 Day Avg. Volume634,509
30 Day Avg. Volume548,809
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$218.00Price Target Upside26.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
Ascendis Pharma Business Overview & Revenue Model
Company DescriptionAscendis 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) for pediatric GHD in Japan; TransCon hGH for adults with GHD; TransCon parathyroid hormone for adult hypoparathyroidism; and TransCon CNP for pediatric achondroplasia. In addition, the company develops TransCon toll like receptors 7/8 agonist for intratumoral delivery; and TransCon IL-2 ß/g for systemic delivery. The company was incorporated in 2006 and is headquartered in Hellerup, Denmark.
How the Company Makes MoneyAscendis Pharma generates revenue primarily through the development and commercialization of its pharmaceutical products. The company's revenue model is centered around its innovative TransCon technology, which is designed to improve the efficacy, safety, and convenience of existing therapies. Key revenue streams include product sales, milestone payments, and potential royalties from partnerships and collaborations with other pharmaceutical companies. These partnerships often involve licensing agreements that provide Ascendis Pharma with upfront payments and ongoing royalties based on sales performance. Additionally, the company's financial performance is significantly influenced by the successful progression of its clinical trials and regulatory approvals, which can enhance its market position and revenue potential.
Ascendis Pharma Financial Statement Overview
Summary
Ascendis Pharma exhibits robust revenue growth but struggles with profitability and financial stability. Negative margins and reliance on debt pose risks. Cash flow constraints highlight the need for sustainable financing.Income Statement
Ascendis Pharma shows significant revenue growth with a Revenue Growth Rate of 36.3% from 2023 to 2024. However, the company continues to operate at a loss, with negative Gross Profit Margin and Net Profit Margin due to substantial R&D expenses typical in biotechnology. EBIT and EBITDA margins remain negative, indicating ongoing operating losses.45
Neutral
Balance Sheet
The company's financial structure is concerning, with negative Stockholders' Equity indicating accumulated losses. The Debt-to-Equity Ratio is not calculable due to negative equity, highlighting potential financial instability. The Equity Ratio is also negative, reflecting the company's reliance on debt financing.30
Negative
Cash Flow
Operating Cash Flow remains negative, reflecting cash outflows from operations. However, Free Cash Flow improved slightly year-over-year, though it remains negative. The Free Cash Flow to Net Income Ratio is not favorable. There is a reliance on financing activities to support cash needs.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 363.64M | 266.72M | 51.17M | 7.78M | 6.95M | Gross Profit |
| 319.38M | 222.32M | 39.04M | 4.25M | 6.95M | EBIT |
| -278.76M | -455.54M | -561.81M | -451.79M | -330.62M | EBITDA |
| -290.02M | -411.17M | -556.04M | -423.67M | -328.88M | Net Income Common Stockholders |
| -378.08M | -481.45M | -583.19M | -383.58M | -418.95M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 559.54M | 399.44M | 735.46M | 682.06M | 718.79M | Total Assets |
| 1.18B | 825.59M | 1.09B | 1.08B | 979.79M | Total Debt |
| 856.62M | 644.26M | 508.38M | 104.96M | 91.97M | Net Debt |
| 297.07M | 252.10M | 63.61M | -341.31M | -492.54M | Total Liabilities |
| 1.29B | 971.28M | 826.39M | 201.29M | 141.08M | Stockholders Equity |
| -105.71M | -145.70M | 263.35M | 883.63M | 838.71M |
| Cash Flow | Free Cash Flow | |||
| -307.62M | -469.80M | -510.19M | -441.88M | -293.10M | Operating Cash Flow |
| -306.20M | -467.36M | -495.70M | -417.65M | -271.55M | Investing Cash Flow |
| 6.88M | 286.47M | 61.73M | -110.58M | -291.20M | Financing Cash Flow |
| 443.93M | 134.29M | 396.77M | 351.39M | 602.65M |
Ascendis Pharma Technical Analysis
Positive
172.06
Price Trends
155.61
Positive
144.61
Positive
138.55
Positive
Market Momentum
4.71
Negative
65.25
Neutral
76.84
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 172.06 is above the 20-day moving average (MA) of 156.47, above the 50-day MA of 155.61, and above the 200-day MA of 138.55, indicating a bullish trend. The MACD of 4.71 indicates Negative momentum. The RSI at 65.25 is Neutral, neither overbought nor oversold. The STOCH value of 76.84 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 90 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
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $10.91B | 22.34 | 23.13% | ― | 18.49% | 176.71% | |
78 Outperform | $7.68B | 59.01 | 23.55% | ― | 39.94% | 32.10% | |
75 Outperform | $7.56B | 17.83 | 198.42% | ― | 22.44% | 63.47% | |
56 Neutral | $7.00B | ― | -50.16% | ― | ― | -10.89% | |
52 Neutral | $10.30B | ― | 357.68% | ― | 36.09% | 22.96% | |
52 Neutral | $5.35B | 3.96 | -42.60% | 2.86% | 17.58% | 1.27% | |
45 Neutral | $10.68B | ― | -29.34% | ― | -38.25% | 44.29% |
* Healthcare Sector Average
Performance Comparison
ASND
Ascendis Pharma
172.06
38.06
28.40%
CORT
Corcept Therapeutics
72.77
48.80
203.59%
EXEL
Exelixis
39.60
17.70
80.82%
HALO
Halozyme
61.19
20.33
49.76%
MDGL
Madrigal Pharmaceuticals
315.48
79.91
33.92%
MRNA
Moderna
27.61
-94.52
-77.39%
Ascendis Pharma Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 2.74%|
Next Earnings Date:Sep 09, 2025
Earnings Call Sentiment Neutral
The earnings call highlights Ascendis Pharma's strong launch and revenue growth for YORVIPATH, alongside significant advances in their product pipeline. However, this success is tempered by increased operating expenses and ongoing challenges in securing insurance reimbursements. Overall, the sentiment is balanced with significant achievements and operational challenges.Q1-2025 Updates
Positive Updates
Successful Launch of YORVIPATH
YORVIPATH, the first and only FDA approved treatment for hypoparathyroidism in adults, was prescribed by over 1,000 unique prescribers for more than 1,750 patients in the U.S. in its first quarter since launch.
Strong Revenue Growth
Total global YORVIPATH revenue grew to €45 million in Q1 2025 from €40 million in Q4 2024. SKYTROFA revenues reached €51 million, capturing 7% of the total U.S. growth hormone market.
Advancement of Pipeline Products
The company submitted an NDA to the FDA for TransCon CNP in March and is planning to file an MAA with EMEA in Q3 2025. TransCon CNP has shown promise in treating achondroplasia.
Positive Financial Position
As of March 31, 2025, Ascendis Pharma had cash and cash equivalents totaling €518 million, supporting continued growth and development.
Negative Updates
Increased Operating Expenses
R&D costs increased to €86.6 million from €70.7 million, and SG&A expenses rose to €101 million from €66.8 million compared to the first quarter of 2024, primarily due to global commercial expansion.
Challenges with Insurance Reimbursement
There is uncertainty regarding the proportion of patients who will ultimately receive reimbursement for YORVIPATH, indicating potential hurdles in insurance negotiations.
Company Guidance
During the Ascendis Pharma First Quarter 2025 Earnings Conference Call, the company provided guidance on several key metrics and strategic initiatives. For the first quarter ending March 31, 2025, YORVIPATH generated €45 million in revenue, up from €40 million in the previous quarter, with more than 1,750 patients in the U.S. receiving prescriptions from over 1,000 unique prescribers. SKYTROFA, another key product, achieved €51 million in revenue, capturing around 7% of the total U.S. growth hormone market and 43% of the long-acting segment. Ascendis anticipates YORVIPATH will significantly impact its 2025 financial profile, projecting revenue growth as market access expands in Europe. The company is also advancing its TransCon CNP pipeline, with an NDA submission to the FDA in March and an MAA filing expected with EMEA in Q3 2025. Ascendis aims to continue building on its U.S. and European market successes, with strategic plans for clinical trial expansions and regulatory filings to support its growth trajectory.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.