# Ascendis Pharma A/S (ASND)

> Source: Nexqual · https://nexqual.com/ASND · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Ascendis Pharma A/S (ASND), nexqual.com/ASND" · informational, not investment advice.

**Price:** USD 242.99 (+1.71% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 238.9 · day 236.87–243.87 · 52w 188.07–282.15 · market cap $16.0B · NMS

## Key facts
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $5.5M; 3 not under a Rule 10b5-1 plan ($5.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $777K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.76 on a 1–5 scale) (21 analysts), mean target USD 307.57 (range 261.99–349.56).
- Total return with dividends: 1Y +20.9% vs S&P 500 +14.9%; 5Y +68.0% vs S&P 500 +80.3%.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Bodenhoff Mads | SVP & PAO | 3,000 | $811K | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02 | Holtug Lars | Director | 236 | $62K | 5.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11 | Jensen Flemming Steen | See Remarks | 19,460 | $4.6M | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
5 purchases, $777K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-14 | Bienaime Jean Jacques | Director | 2,000 | $493K | 246.33 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Smith Scott Thomas | EVP & Chief Financial Officer | 100 | $22K | 219 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-29 | Bienaime Jean Jacques | Director | 500 | $112K | 223.12 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-29 | Smith Scott Thomas | EVP & Chief Financial Officer | 250 | $56K | 223.32 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26 | Bienaime Jean Jacques | Director | 400 | $95K | 237.8 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 1.76 on a 1–5 scale), 21 analysts; mean target USD 307.57 (low 261.99, high 349.56).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-25 | Cantor Fitzgerald | Reiterated | Overweight | $300 |
| 2026-09-15 | Raymond James | Downgrade | Strong Buy → Outperform | $287 |
| 2026-09-02 | Oppenheimer | Target raised | Outperform | $304 → $312 |
| 2026-09-01 | Morgan Stanley | Target lowered | Overweight | $275 → $273 |
| 2026-09-01 | Wedbush | Reiterated | Outperform | $327 |
| 2026-08-31 | B of A Securities | Target lowered | Buy | $306 → $304 |
| 2026-08-31 | Jefferies | Target lowered | Buy | $333 → $330 |
| 2026-08-31 | Stifel | Target lowered | Buy | $328 → $326 |
| 2026-08-31 | HC Wainwright & Co. | Target lowered | Buy | $345 → $344 |
| 2026-08-27 | HC Wainwright & Co. | Initiated | Buy | $345 |
| 2026-08-19 | BMO Capital | Initiated | Outperform | $319 |
| 2026-08-14 | TD Cowen | Target raised | Buy | $325 → $341 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +20.9% | +68.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +21.0% | +10.9% |
| Volatility (annualized) | 38.9% | 47.8% |
| Max drawdown | -19.7% (Jul 2026→Oct 2026) | -56.5% (Nov 2021→Apr 2023) |

## Peers (Biotechnology)
EXEL (Exelixis, Inc.) USD 65.31 +1.13% · HALO (Halozyme Therapeutics, Inc.) USD 124.54 -0.23% · JAZZ (Jazz Pharmaceuticals plc) USD 214.65 +1.26% · BBIO (BridgeBio Pharma, Inc.) USD 68.12 +0.56% · INSM (Insmed Incorporated) USD 95.06 +1.08% · SMMT (Summit Therapeutics Inc.) USD 15.55 -1.77%

## More
Full page: https://nexqual.com/ASND · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ASND's own 20-F filed 2026-02-11 (https://www.sec.gov/Archives/edgar/data/1612042/000119312526046590/asnd-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | WuXi | "We may also rely on other foreign contract research organizations ("CROs"), and contract manufacturing organizations ("CMOs"), such as WuXi Biologics." |
| Supplier | Bachem | "Our growth hormone parent drug as well as our TransCon hGH drug substance are supplied by both Fujifilm Diosynth Biotechnologies UK Limited ("Fujifilm"), and Lonza Ltd. Our PTH as well as our TransCon PTH drug substance …" |
| Supplier | Fujifilm Diosynth Biotechnologies UK | "Our growth hormone parent drug as well as our TransCon hGH drug substance are supplied by both Fujifilm Diosynth Biotechnologies UK Limited ("Fujifilm"), and Lonza Ltd. Our PTH as well as our TransCon PTH drug substance …" |
| Supplier | Lonza | "Our growth hormone parent drug as well as our TransCon hGH drug substance are supplied by both Fujifilm Diosynth Biotechnologies UK Limited ("Fujifilm"), and Lonza Ltd. Our PTH as well as our TransCon PTH drug substance …" |
| Partner | Novo Nordisk (NVO) | "For example, in November 2024, we entered into a research and development collaboration and license agreement with Novo Nordisk A/S ("Novo Nordisk"), pursuant to which we granted Novo Nordisk an exclusive worldwide licen…" |
| Partner | NOF | "As another example, in November 2023, we announced that we entered into an exclusive license agreement with Teijin Limited, ("Teijin"), to develop and commercialize TransCon hGH, TransCon PTH and TransCon CNP for certain…" |
| Partner | Teijin | "As another example, in November 2023, we announced that we entered into an exclusive license agreement with Teijin Limited, ("Teijin"), to develop and commercialize TransCon hGH, TransCon PTH and TransCon CNP for certain…" |
| Partner | Eyconis | "The timing and amount of any milestone and royalty payments we may receive under agreements with collaboration partners and the value of any equity we own in our collaboration partners (such as the equity we own in VISEN…" |
| Partner | Pfizer (PFE) | "Pfizer (in collaboration with OPKO Health Inc.) has received regulatory approval of once-weekly somatrogon (brand name NGENLA) in more than 40 countries for pediatric GHD." |
| Partner | OPKO HEALTH, INC. (OPK) | "Pfizer (in collaboration with OPKO Health Inc.) has received regulatory approval of once-weekly somatrogon (brand name NGENLA) in more than 40 countries for pediatric GHD." |
| Partner | CARBOGEN AMCIS | "The intermediates of our proprietary TransCon linkers are made by CARBOGEN AMCIS AG under an agreement with CARBOGEN AMCIS AG and accompanying purchase orders." |
| Partner | Artisan Partners Asset Management Inc. (APAM) | "Consists of an aggregate of 3,225,885 ADSs beneficially owned, or that may be deemed to be beneficially owned, by Artisan Partners Limited Partnership ("APLP"), Artisan Investments GP LLC ("Artisan Investments"), Artisan…" |
| Competitor | Eli Lilly (LLY) | "In addition, TransCon IL-2 b/g may face competition from drug candidates in development for platinum resistant ovarian cancer, including Astra Zeneca, Corcept, Daiichi Sankyo, Eli Lilly, Genelux, Genmab, and Merck." |
| Competitor | Merck (MRK) | "In addition, TransCon IL-2 b/g may face competition from drug candidates in development for platinum resistant ovarian cancer, including Astra Zeneca, Corcept, Daiichi Sankyo, Eli Lilly, Genelux, Genmab, and Merck." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.94 | $1.32 | -28.6% | $367.3M | 3 |
| Next quarter (ends 2026-12-31) | $1.15 | $1.59 | -27.6% | $415.4M | 3 |
| Current fiscal year (ends 2026-12-31) | $12.79 | $11.73 | +9.1% | $1.38B | 5 |
| Next fiscal year (ends 2027-12-31) | $9.62 | $9.29 | +3.6% | $2.02B | 5 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 47.9% | ±10.9% |
| 2026-12-18 | 56 | 42.6% | ±13.5% |
| 2027-01-15 | 84 | 41.4% | ±16.0% |
| 2027-03-19 | 147 | 42.3% | ±21.5% |
| 2027-04-16 | 175 | 41.7% | ±23.1% |