Seven Eight Capital LP Lowers Stock Holdings in Ascendis Pharma A/S (NASDAQ:ASND)

Seven Eight Capital LP reduced its position in Ascendis Pharma A/S (NASDAQ:ASND) by 75.3% in the 1st quarter, Holdings Channel reports. The fund owned 4,597 shares of the biotechnology company’s stock after selling 14,039 shares during the period. Seven Eight Capital LP’s holdings in Ascendis Pharma A/S were worth $695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vestal Point Capital LP purchased a new stake in shares of Ascendis Pharma A/S during the 4th quarter valued at $78,719,000. Certuity LLC purchased a new stake in shares of Ascendis Pharma A/S during the 4th quarter valued at $270,000. GSA Capital Partners LLP purchased a new stake in shares of Ascendis Pharma A/S during the 1st quarter valued at $992,000. ADAR1 Capital Management LLC purchased a new stake in shares of Ascendis Pharma A/S during the 4th quarter valued at $5,779,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Ascendis Pharma A/S during the 4th quarter valued at $16,648,000.

Wall Street Analyst Weigh In

ASND has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Ascendis Pharma A/S from $167.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $173.00 price objective on shares of Ascendis Pharma A/S in a research note on Wednesday, May 15th. Stifel Nicolaus began coverage on shares of Ascendis Pharma A/S in a report on Friday, May 31st. They set a “buy” rating and a $200.00 target price on the stock. TD Cowen upgraded shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating and lifted their target price for the company from $156.00 to $175.00 in a report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of Ascendis Pharma A/S from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND traded down $1.56 during midday trading on Tuesday, reaching $134.76. 223,966 shares of the company’s stock were exchanged, compared to its average volume of 372,270. Ascendis Pharma A/S has a 52-week low of $85.29 and a 52-week high of $161.00. The stock has a market capitalization of $7.85 billion, a PE ratio of -14.02 and a beta of 0.63. The business’s fifty day moving average price is $132.15 and its two-hundred day moving average price is $139.32.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($2.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by ($0.91). Ascendis Pharma A/S had a negative return on equity of 16,574.15% and a negative net margin of 152.68%. The business had revenue of $103.11 million for the quarter, compared to analysts’ expectations of $85.72 million. Analysts predict that Ascendis Pharma A/S will post -5.57 earnings per share for the current fiscal year.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.