Skandinaviska Enskilda Banken AB publ Makes New $5.72 Million Investment in Ascendis Pharma A/S $ASND

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 28,767 shares of the biotechnology company’s stock, valued at approximately $5,719,000.

A number of other hedge funds have also made changes to their positions in ASND. Massachusetts Financial Services Co. MA lifted its position in shares of Ascendis Pharma A/S by 1.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company’s stock worth $328,258,000 after buying an additional 23,926 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S in the 2nd quarter valued at $166,367,000. Principal Financial Group Inc. increased its holdings in Ascendis Pharma A/S by 2,722.9% during the 3rd quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock valued at $157,791,000 after purchasing an additional 765,561 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Ascendis Pharma A/S by 14.9% during the second quarter. American Century Companies Inc. now owns 530,809 shares of the biotechnology company’s stock valued at $91,619,000 after purchasing an additional 68,638 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Ascendis Pharma A/S by 40.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 459,606 shares of the biotechnology company’s stock worth $79,328,000 after buying an additional 132,201 shares during the last quarter.

Ascendis Pharma A/S Price Performance

Shares of ASND opened at $230.08 on Friday. The stock’s fifty day moving average price is $216.49 and its two-hundred day moving average price is $206.37. Ascendis Pharma A/S has a 1 year low of $124.06 and a 1 year high of $242.00. The firm has a market cap of $14.26 billion, a PE ratio of -52.29 and a beta of 0.44.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The business had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $285.35 million. Sell-side analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ASND. Stifel Nicolaus set a $325.00 price target on Ascendis Pharma A/S in a research note on Thursday, February 12th. Wells Fargo & Company raised their target price on shares of Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Barclays initiated coverage on shares of Ascendis Pharma A/S in a research note on Tuesday, January 27th. They set an “overweight” rating and a $342.00 price objective on the stock. TD Cowen reiterated a “buy” rating on shares of Ascendis Pharma A/S in a research note on Wednesday, January 7th. Finally, Wedbush upped their price objective on shares of Ascendis Pharma A/S from $240.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $284.00.

Ascendis Pharma A/S Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.