Arrowstreet Capital Limited Partnership Invests $20.92 Million in Ascendis Pharma A/S $ASND

Arrowstreet Capital Limited Partnership bought a new position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 91,470 shares of the biotechnology company's stock, valued at approximately $20,922,000. Arrowstreet Capital Limited Partnership owned 0.15% of Ascendis Pharma A/S as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in ASND. Wellington Management Group LLP lifted its holdings in Ascendis Pharma A/S by 95.9% during the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company's stock worth $357,645,000 after buying an additional 880,836 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Ascendis Pharma A/S by 29.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company's stock valued at $218,871,000 after acquiring an additional 232,730 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Ascendis Pharma A/S in the second quarter worth $166,367,000. Vestal Point Capital LP raised its stake in Ascendis Pharma A/S by 200.0% in the 3rd quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company's stock worth $119,286,000 after acquiring an additional 400,000 shares during the last quarter. Finally, FIL Ltd raised its stake in shares of Ascendis Pharma A/S by 4.2% in the fourth quarter. FIL Ltd now owns 478,641 shares of the biotechnology company's stock worth $102,065,000 after purchasing an additional 19,301 shares during the last quarter.

Ascendis Pharma A/S Trading Down 0.4%

ASND opened at $251.07 on Friday. The firm has a market cap of $15.66 billion, a P/E ratio of 28.96 and a beta of 0.37. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $245.01 and a 200-day simple moving average of $234.84. Ascendis Pharma A/S has a 52 week low of $167.27 and a 52 week high of $282.15.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.11. The business had revenue of $285.45 million for the quarter, compared to analysts' expectations of $362.47 million. On average, equities analysts expect that Ascendis Pharma A/S will post 4.49 earnings per share for the current year.

Insider Transactions at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $238.49, for a total value of $4,641,015.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime purchased 400 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $237.80 per share, with a total value of $95,120.00. Following the acquisition, the director directly owned 400 shares in the company, valued at $95,120. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 40.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Wedbush restated an "outperform" rating and set a $273.00 price objective on shares of Ascendis Pharma A/S in a research report on Thursday, April 9th. Barclays raised their target price on Ascendis Pharma A/S from $342.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Evercore reaffirmed an "outperform" rating and set a $329.00 price objective on shares of Ascendis Pharma A/S in a research note on Friday, May 15th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Ascendis Pharma A/S in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $296.72.

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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