Allspring Global Investments Holdings LLC Acquires 10,644 Shares of Ascendis Pharma A/S $ASND

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Ascendis Pharma A/S by 5.6%, acquiring an additional 10,644 shares, bringing its total ownership to 200,257 shares valued at approximately $34.4 million.
• Multiple analysts have recently adjusted their price targets for Ascendis Pharma, with Royal Bank Of Canada setting a new target of $230.00, while JPMorgan Chase & Co. increased theirs to $264.00.
• Ascendis Pharma reported better-than-expected quarterly earnings, with an EPS of (0.93), exceeding consensus estimates and generating revenues of $216.28 million for the quarter.

Allspring Global Investments Holdings LLC boosted its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,257 shares of the biotechnology company's stock after acquiring an additional 10,644 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.33% of Ascendis Pharma A/S worth $34,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ASND. Compagnie Lombard Odier SCmA bought a new stake in Ascendis Pharma A/S in the second quarter valued at about $39,000. Brooklyn Investment Group increased its holdings in shares of Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock worth $55,000 after buying an additional 273 shares in the last quarter. LVW Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S during the second quarter worth approximately $202,000. Dearborn Partners LLC acquired a new stake in shares of Ascendis Pharma A/S during the first quarter worth approximately $203,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S during the first quarter worth approximately $222,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on ASND shares. Royal Bank Of Canada raised their price objective on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen lowered Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on Ascendis Pharma A/S from $260.00 to $264.00 and gave the stock an "overweight" rating in a research note on Thursday, October 9th. UBS Group reissued a "buy" rating and issued a $307.00 price objective (up previously from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ascendis Pharma A/S currently has an average rating of "Moderate Buy" and an average target price of $248.29.

Ascendis Pharma A/S Price Performance

ASND opened at $207.12 on Thursday. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $216.45. The company's 50 day simple moving average is $198.44 and its 200-day simple moving average is $176.71. The stock has a market capitalization of $12.78 billion, a P/E ratio of -40.14 and a beta of 0.41.

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) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.49. The company had revenue of $216.28 million for the quarter, compared to the consensus estimate of $163.17 million. As a group, analysts anticipate 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.

Want to see what other hedge funds are holding ASND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ascendis Pharma A/S (NASDAQ:ASND - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.