7,274 Shares of Ascendis Pharma A/S $ASND Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new position in Ascendis Pharma, buying 7,274 shares worth about $1.66 million in the third quarter. Several other investment firms also increased or initiated holdings.
• Ascendis reported quarterly EPS of $1.03, below the $1.71 consensus estimate, while revenue of $387.22 million exceeded forecasts of $376.75 million.
• Analyst sentiment is broadly positive: 19 analysts rated the stock Buy and two rated it Hold, giving it a “Moderate Buy” consensus and an average price target of $305.95.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,274 shares of the biotechnology company's stock, valued at approximately $1,657,000.

Other hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC acquired a new position in Ascendis Pharma A/S in the third quarter worth approximately $1,193,000. Candriam S.C.A. increased its holdings in shares of Ascendis Pharma A/S by 23.2% in the first quarter. Candriam S.C.A. now owns 230,278 shares of the biotechnology company's stock valued at $52,671,000 after buying an additional 43,338 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Ascendis Pharma A/S by 68.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 225,155 shares of the biotechnology company's stock valued at $60,053,000 after acquiring an additional 91,822 shares during the last quarter. Orbimed Advisors LLC boosted its stake in shares of Ascendis Pharma A/S by 5.8% during the 1st quarter. Orbimed Advisors LLC now owns 181,977 shares of the biotechnology company's stock worth $41,624,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Ascendis Pharma A/S by 1,105.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 17,305 shares of the biotechnology company's stock worth $3,943,000 after acquiring an additional 15,870 shares during the last quarter.

Ascendis Pharma A/S Trading Up 1.3%

Ascendis Pharma A/S stock opened at $256.82 on Friday. The company has a 50 day moving average price of $242.50 and a 200 day moving average price of $239.00. Ascendis Pharma A/S has a 52 week low of $188.07 and a 52 week high of $282.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.32 and a current ratio of 2.99. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 19.92 and a beta of 0.40.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ASND shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ascendis Pharma A/S in a research report on Tuesday, October 13th. UBS Group assumed coverage on Ascendis Pharma A/S in a research report on Thursday, October 15th. They issued a "buy" rating and a $269.00 price target for the company. HC Wainwright set a $344.00 price target on Ascendis Pharma A/S in a research report on Thursday, September 10th. Wedbush reissued an "outperform" rating and issued a $327.00 price target on shares of Ascendis Pharma A/S in a research note on Tuesday, September 1st. Finally, Bank of America cut their price objective on Ascendis Pharma A/S from $306.00 to $304.00 and set a "buy" rating on the stock in a report on Monday, August 31st. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $305.95.

Insiders Place Their Bets

In other news, SVP Mads Bodenhoff sold 3,000 shares of Ascendis Pharma A/S stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $270.19, for a total transaction of $810,570.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jean-Jacques Bienaimé purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $246.33 per share, for a total transaction of $492,660.00. Following the completion of the transaction, the director directly owned 2,900 shares of the company's stock, valued at $714,357. This trade represents a 222.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Company Profile

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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