PSP Research LLC Purchases New Shares in Ascendis Pharma A/S $ASND

PSP Research LLC purchased a new stake in shares of Ascendis Pharma A/S (NASDAQ:ASND) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,579 shares of the biotechnology company’s stock, valued at approximately $550,000. Ascendis Pharma A/S accounts for about 0.5% of PSP Research LLC’s holdings, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avoro Capital Advisors LLC raised its holdings in shares of Ascendis Pharma A/S by 2.6% in the third quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company’s stock worth $1,015,919,000 after buying an additional 130,000 shares during the period. Capital International Investors raised its holdings in shares of Ascendis Pharma A/S by 0.4% in the third quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company’s stock worth $608,481,000 after buying an additional 13,685 shares during the period. Wellington Management Group LLP raised its holdings in shares of Ascendis Pharma A/S by 95.9% in the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock worth $357,645,000 after buying an additional 880,836 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Ascendis Pharma A/S by 29.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company’s stock worth $218,871,000 after buying an additional 232,730 shares during the period. Finally, Perceptive Advisors LLC purchased a new stake in shares of Ascendis Pharma A/S in the second quarter worth approximately $166,367,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ASND shares. Bank of America increased their price target on Ascendis Pharma A/S from $262.00 to $292.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $255.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Wells Fargo & Company reduced their price target on Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Stifel Nicolaus set a $332.00 price target on Ascendis Pharma A/S in a report on Wednesday, March 4th. Finally, Oppenheimer raised their price objective on Ascendis Pharma A/S from $246.00 to $262.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ascendis Pharma A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.39.

Ascendis Pharma A/S Stock Up 0.1%

Shares of NASDAQ ASND opened at $237.96 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $14.84 billion, a PE ratio of 27.45 and a beta of 0.41. The stock’s fifty day simple moving average is $232.12 and its two-hundred day simple moving average is $221.06. Ascendis Pharma A/S has a 12-month low of $153.49 and a 12-month high of $250.74.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. The company had revenue of $285.45 million for the quarter, compared to the consensus estimate of $362.47 million. As a group, analysts expect that Ascendis Pharma A/S will post 12.19 EPS for the current fiscal year.

Insider Buying and Selling at Ascendis Pharma A/S

In other news, insider Flemming Steen Jensen sold 19,460 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $238.49, for a total value of $4,641,015.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 40.00% of the stock is owned by insiders.

Ascendis Pharma A/S Company 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.