Shares of Ascendis Pharma A/S (ASND) soared 5.4% in the pre-market session on Friday, riding on favorable analyst reports and better-than-expected quarterly earnings results.
Analysts from Bank of America Securities and Stifel Nicolaus reiterated their "Buy" ratings on the biopharmaceutical company, highlighting its strong growth prospects. Their positive views could have fueled investor optimism and contributed to the stock's surge.
Additionally, Ascendis Pharma reported a narrower-than-expected loss for the third quarter ended September 30. While the company posted a loss of €1.72 per share, it beat analysts' expectations of a €1.74 loss per share. The earnings beat, albeit modest, may have further boosted investor confidence in the company's performance.
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