Shares of Ascendis Pharma A/S surged 5.87% in Wednesday's session, outperforming the broader market. The biopharmaceutical company's stock rallied after reporting better-than-expected fourth-quarter earnings and revenue, fueled by strong sales growth.
Ascendis Pharma's fourth-quarter GAAP earnings per share of €(0.64) beat the consensus estimate of €(1.07). Meanwhile, its revenue of €173.916 million surpassed expectations of €111.178 million, driven by robust demand for its products.
The company's impressive financial results and positive outlook for continued growth have boosted investor confidence, leading to the significant stock price increase. Analysts expect Ascendis Pharma's innovative pipeline and expanding commercial portfolio to drive further revenue and earnings growth in the coming quarters.
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