Artia Global Partners LP Increases Position in Ascendis Pharma A/S $ASND

Key Points

• Artia Global Partners LP increased its stake in Ascendis Pharma by 44.9% in the fourth quarter, buying 5,500 additional shares and bringing its total to 17,740 shares worth about $3.78 million.
• Insider activity was mixed: director Jean Jacques Bienaime bought 400 shares, while insider Flemming Steen Jensen sold 19,460 shares in separate transactions.
• Ascendis Pharma’s latest results beat EPS expectations, reporting $0.32 per share versus the $0.21 consensus, though revenue came in below estimates at $285.45 million. Analysts remain broadly bullish, with a consensus rating of “Buy” and an average price target of $295.39.

Artia Global Partners LP boosted its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,740 shares of the biotechnology company's stock after purchasing an additional 5,500 shares during the quarter. Ascendis Pharma A/S comprises 0.5% of Artia Global Partners LP's portfolio, making the stock its 28th largest position. Artia Global Partners LP's holdings in Ascendis Pharma A/S were worth $3,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASND. Perceptive Advisors LLC purchased a new stake in Ascendis Pharma A/S in the second quarter worth about $166,367,000. Wellington Management Group LLP grew its holdings in Ascendis Pharma A/S by 95.9% in the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company's stock worth $357,645,000 after purchasing an additional 880,836 shares during the period. Vestal Point Capital LP grew its holdings in Ascendis Pharma A/S by 200.0% in the third quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company's stock worth $119,286,000 after purchasing an additional 400,000 shares during the period. Spyglass Capital Management LLC purchased a new stake in Ascendis Pharma A/S in the third quarter worth about $77,267,000. Finally, Principal Financial Group Inc. grew its holdings in Ascendis Pharma A/S by 29.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company's stock worth $218,871,000 after purchasing an additional 232,730 shares during the period.

Insider Activity at Ascendis Pharma A/S

In related news, insider Flemming Steen Jensen sold 19,460 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $238.49, for a total value of $4,641,015.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime bought 400 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $237.80 per share, for a total transaction of $95,120.00. Following the acquisition, the director directly owned 400 shares of the company's stock, valued at $95,120. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Trading Down 0.0%

NASDAQ:ASND opened at $231.15 on Thursday. The company's 50 day moving average price is $232.16 and its 200-day moving average price is $224.09. Ascendis Pharma A/S has a 52 week low of $160.86 and a 52 week high of $250.74. 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 stock has a market cap of $14.42 billion, a price-to-earnings ratio of 26.66 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.11. The firm had revenue of $285.45 million for the quarter, compared to analysts' expectations of $362.47 million. On average, equities research analysts forecast that Ascendis Pharma A/S will post 14.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ASND. Oppenheimer restated an "outperform" rating on shares of Ascendis Pharma A/S in a report on Tuesday, June 9th. Wells Fargo & Company cut their price objective on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Evercore reiterated an "outperform" rating and set a $329.00 price target on shares of Ascendis Pharma A/S in a report on Friday, May 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Finally, Royal Bank Of Canada increased their price target on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, March 2nd. Two investment analysts have 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 MarketBeat.com, Ascendis Pharma A/S presently has an average rating of "Buy" and an average target price of $295.39.

Ascendis Pharma A/S Profile

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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