Tri Locum Partners LP Buys New Position in Ascendis Pharma A/S $ASND

Key Points

• Tri Locum Partners LP has purchased 32,325 shares of Ascendis Pharma A/S, valued at approximately $5.0 million, making it the firm's 15th largest holding.
• Ascendis Pharma reported a quarterly loss of ($0.93) earnings per share, which surpassed analysts' expectations of ($1.42), alongside revenue of $216.28 million.
• Fifteen investment analysts rated Ascendis Pharma shares as a "buy," with the majority issuing price targets ranging from $224.00 to $290.00.

Tri Locum Partners LP purchased a new stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 32,325 shares of the biotechnology company's stock, valued at approximately $5,038,000. Ascendis Pharma A/S makes up about 2.6% of Tri Locum Partners LP's investment portfolio, making the stock its 15th biggest holding. Tri Locum Partners LP owned about 0.05% of Ascendis Pharma A/S at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Ascendis Pharma A/S by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock valued at $1,337,000 after purchasing an additional 195 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ascendis Pharma A/S in the fourth quarter valued at about $28,000. Brooklyn Investment Group raised its stake in Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 273 shares in the last quarter. GF Fund Management CO. LTD. raised its stake in Ascendis Pharma A/S by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 1,544 shares of the biotechnology company's stock valued at $241,000 after purchasing an additional 278 shares in the last quarter. Finally, Mariner LLC raised its stake in Ascendis Pharma A/S by 31.0% in the fourth quarter. Mariner LLC now owns 2,160 shares of the biotechnology company's stock valued at $297,000 after purchasing an additional 511 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on ASND shares. Wall Street Zen raised Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Royal Bank Of Canada boosted their target price on Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cantor Fitzgerald boosted their target price on Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Wedbush boosted their target price on Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Fifteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $243.36.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ:ASND traded up $0.37 during midday trading on Friday, hitting $194.27. 357,323 shares of the stock were exchanged, compared to its average volume of 543,273. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of -37.65 and a beta of 0.41. The business's 50-day moving average price is $180.19 and its 200 day moving average price is $166.19. Ascendis Pharma A/S has a 12 month low of $111.09 and a 12 month high of $199.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.49. The firm had revenue of $216.28 million for the quarter, compared to the consensus estimate of $163.17 million. As a group, sell-side analysts expect that Ascendis Pharma A/S will post -4.34 EPS for the current 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.