Ally Bridge Group NY LLC Acquires Shares of 51,080 Ascendis Pharma A/S $ASND

Key Points

• Ally Bridge Group NY LLC bought 51,080 shares of Ascendis Pharma (NASDAQ:ASND) in Q3, a new position valued at about $10.16 million that represents roughly 6.2% of Ally Bridge’s portfolio and about 0.08% ownership of Ascendis at quarter-end.
• Ascendis reported quarterly EPS of ($0.64), missing consensus by $0.58 while revenue of $290.38M slightly beat estimates; the stock trades near $226 with a market cap around $14.0B and a 1‑year range of $124.06–$248.60.
• Analysts are generally positive with a MarketBeat consensus of "Moderate Buy" and an average price target of about $289.88, and several firms have recently raised price targets (e.g., Wells Fargo to $330).

Ally Bridge Group NY LLC bought a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 51,080 shares of the biotechnology company's stock, valued at approximately $10,155,000. Ascendis Pharma A/S comprises approximately 6.2% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 6th largest position. Ally Bridge Group NY LLC owned about 0.08% of Ascendis Pharma A/S at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Ascendis Pharma A/S by 57.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company's stock worth $44,000 after buying an additional 83 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Ascendis Pharma A/S during the 3rd quarter worth $74,000. Farther Finance Advisors LLC boosted its stake in Ascendis Pharma A/S by 115.3% in the third quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company's stock valued at $95,000 after buying an additional 256 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in Ascendis Pharma A/S by 33.7% in the third quarter. Toth Financial Advisory Corp now owns 595 shares of the biotechnology company's stock valued at $118,000 after buying an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Ascendis Pharma A/S by 15.2% in the third quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company's stock valued at $146,000 after acquiring an additional 97 shares during the last quarter.

Ascendis Pharma A/S Trading Down 1.3%

Shares of Ascendis Pharma A/S stock opened at $225.98 on Friday. The business has a 50-day moving average price of $224.24 and a two-hundred day moving average price of $211.20. Ascendis Pharma A/S has a 1-year low of $124.06 and a 1-year high of $248.60. The company has a market cap of $14.01 billion, a P/E ratio of -51.36 and a beta of 0.43.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.58). The firm had revenue of $290.38 million during the quarter, compared to the consensus estimate of $285.35 million. Equities research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Analyst Ratings Changes

ASND has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Ascendis Pharma A/S from $322.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Morgan Stanley restated an "overweight" rating and issued a $256.00 price target on shares of Ascendis Pharma A/S in a research note on Thursday, February 12th. Wall Street Zen lowered shares of Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a report on Saturday, November 15th. Wolfe Research reiterated an "outperform" rating and set a $260.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Finally, Stifel Nicolaus set a $332.00 price objective on shares of Ascendis Pharma A/S in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $289.88.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

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