Envestnet Asset Management Inc. Cuts Holdings in Ascendis Pharma A/S (NASDAQ:ASND)

Envestnet Asset Management Inc. lessened its position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,577 shares of the biotechnology company's stock after selling 1,762 shares during the period. Envestnet Asset Management Inc.'s holdings in Ascendis Pharma A/S were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Ascendis Pharma A/S in the 3rd quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its holdings in Ascendis Pharma A/S by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company's stock worth $34,000 after buying an additional 197 shares during the last quarter. Blue Trust Inc. raised its position in Ascendis Pharma A/S by 415.2% during the fourth quarter. Blue Trust Inc. now owns 407 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 328 shares in the last quarter. GAMMA Investing LLC lifted its stake in Ascendis Pharma A/S by 58.0% in the fourth quarter. GAMMA Investing LLC now owns 583 shares of the biotechnology company's stock valued at $80,000 after acquiring an additional 214 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Ascendis Pharma A/S during the 4th quarter worth about $203,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASND. Cantor Fitzgerald lifted their target price on Ascendis Pharma A/S from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Morgan Stanley raised Ascendis Pharma A/S from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $180.00 to $250.00 in a research report on Monday. Royal Bank of Canada boosted their price target on Ascendis Pharma A/S from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday. Wedbush lifted their target price on Ascendis Pharma A/S from $181.00 to $212.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Evercore ISI increased their target price on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $216.07.

Ascendis Pharma A/S Stock Down 0.7 %

NASDAQ:ASND traded down $1.23 on Monday, hitting $170.84. The stock had a trading volume of 41,127 shares, compared to its average volume of 493,130. The company has a market cap of $10.42 billion, a PE ratio of -23.98 and a beta of 0.41. Ascendis Pharma A/S has a 52 week low of $111.09 and a 52 week high of $183.00. The business's fifty day moving average is $155.31 and its 200 day moving average is $140.42.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.10). The business had revenue of $123.97 million for the quarter, compared to analysts' expectations of $98.56 million. Equities analysts predict that Ascendis Pharma A/S will post -4.34 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.