Ascendis Pharma A/S $ASND Stake Trimmed by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management LLC has drastically reduced its stake in Ascendis Pharma A/S by 98.0%, leaving it with only 1,402 shares after selling 70,000 shares, valued at approximately $219,000.
• Despite the significant sell-off by ADAR1, several other hedge funds have increased their ownership in Ascendis Pharma, with notable increases from PNC Financial Services and Brooklyn Investment Group.
• Equities analysts remain optimistic about Ascendis Pharma, with firms like Citigroup and Wells Fargo maintaining a "buy" rating and increasing their price targets for the stock, indicating strong market confidence.

ADAR1 Capital Management LLC lowered its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 98.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,402 shares of the biotechnology company's stock after selling 70,000 shares during the quarter. ADAR1 Capital Management LLC's holdings in Ascendis Pharma A/S were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted 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 buying an additional 195 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ascendis Pharma A/S in the fourth quarter valued at $28,000. Brooklyn Investment Group lifted 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 buying an additional 273 shares during the last quarter. GF Fund Management CO. LTD. lifted 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 buying an additional 278 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Ascendis Pharma A/S by 195.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company's stock valued at $138,000 after buying an additional 664 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Ascendis Pharma A/S from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Morgan Stanley started coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They set an "overweight" rating and a $250.00 price objective on the stock. Wedbush lifted their price objective on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Cowen restated a "buy" rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Oppenheimer restated an "outperform" rating and set a $224.00 price objective (up from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ascendis Pharma A/S presently has a consensus rating of "Buy" and a consensus price target of $244.36.

Ascendis Pharma A/S Stock Performance

ASND traded down $3.27 during trading on Monday, reaching $202.64. The company had a trading volume of 152,217 shares, compared to its average volume of 488,150. The firm's 50-day simple moving average is $182.68 and its 200 day simple moving average is $168.05. The company has a market cap of $12.40 billion, a price-to-earnings ratio of -39.27 and a beta of 0.39. Ascendis Pharma A/S has a 12-month low of $111.09 and a 12-month high of $208.16.

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

Ascendis Pharma A/S Profile

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.