16,584 Shares of Ascendis Pharma A/S $ASND Acquired by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management opened a new position in Ascendis Pharma during the third quarter, acquiring 16,584 shares valued at approximately $3.78 million.
• Ascendis reported quarterly EPS of $1.03, below the $1.71 consensus estimate, while revenue of $387.22 million topped expectations of $376.75 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $305.95; 19 analysts rate the stock Buy and two rate it Hold.

Kornitzer Capital Management Inc. KS acquired a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,584 shares of the biotechnology company's stock, valued at approximately $3,778,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Ascendis Pharma A/S by 34.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 272 shares of the biotechnology company's stock worth $62,000 after purchasing an additional 69 shares during the period. Allworth Financial LP boosted its stake in shares of Ascendis Pharma A/S by 103.4% in the 2nd quarter. Allworth Financial LP now owns 240 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 122 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Ascendis Pharma A/S by 94.9% during the first quarter. Parallel Advisors LLC now owns 304 shares of the biotechnology company's stock worth $70,000 after buying an additional 148 shares during the period. IFP Advisors Inc increased its position in shares of Ascendis Pharma A/S by 3,491.7% during the second quarter. IFP Advisors Inc now owns 431 shares of the biotechnology company's stock worth $115,000 after buying an additional 419 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S during the third quarter worth $139,000.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ:ASND opened at $256.82 on Monday. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 19.92 and a beta of 0.40. The company has a quick ratio of 2.32, a current ratio of 2.99 and a debt-to-equity ratio of 0.27. Ascendis Pharma A/S has a 12-month low of $188.07 and a 12-month high of $282.15. The business's 50 day moving average is $242.50 and its 200 day moving average is $239.00.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its earnings results on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.68). The firm had revenue of $387.22 million during the quarter, compared to analysts' expectations of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. On average, sell-side analysts forecast that Ascendis Pharma A/S will post 3.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ASND shares. Canaccord Genuity Group set a $268.00 price objective on Ascendis Pharma A/S in a research report on Monday, October 26th. HC Wainwright set a $344.00 target price on Ascendis Pharma A/S in a research report on Thursday, September 10th. Wedbush reaffirmed an "outperform" rating and set a $327.00 target price on shares of Ascendis Pharma A/S in a research note on Tuesday, September 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Ascendis Pharma A/S in a research note on Thursday, September 10th. Finally, Raymond James Financial downgraded Ascendis Pharma A/S from a "strong-buy" rating to an "outperform" rating and set a $287.00 target price for the company. in a report on Tuesday, September 15th. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $305.95.

Insider Buying and Selling at Ascendis Pharma A/S

In related news, Director Jean-Jacques Bienaimé purchased 2,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $246.33 per share, with a total value of $492,660.00. Following the acquisition, the director owned 2,900 shares of the company's stock, valued at $714,357. This represents a 222.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mads Bodenhoff sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $270.19, for a total transaction of $810,570.00. Following the completion of the transaction, the senior vice president owned 3,000 shares in the company, valued at approximately $810,570. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 40.00% of the stock is currently owned by insiders.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a biopharmaceutical company headquartered in Denmark that develops medicines for rare diseases, with a focus on endocrinology. Founded in 2006, the company uses its TransCon technology platform to design therapies intended to provide sustained delivery of medicines.

Its commercial products include SKYTROFA (lonapegsomatropin), a once-weekly growth hormone treatment for children with growth hormone deficiency, and YORVIPATH (palopegteriparatide), a treatment for adults with hypoparathyroidism.

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