Harbor Capital Advisors Inc. Decreases Stake in Ascendis Pharma A/S $ASND

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Ascendis Pharma A/S by 8.6%, holding approximately 0.13% of the company's stock after selling 7,400 shares in the second quarter.
• Several hedge funds have adjusted their positions, with notable increases from T. Rowe Price and Vestal Point Capital, indicating a mixed investment sentiment toward Ascendis Pharma A/S.
• Wall Street analysts remain optimistic, with multiple firms maintaining or upgrading their buy ratings and price targets, reflecting a consensus average target price of $244.36 for the stock.

Harbor Capital Advisors Inc. lowered its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,560 shares of the biotechnology company's stock after selling 7,400 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.13% of Ascendis Pharma A/S worth $13,559,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ASND. PNC Financial Services Group Inc. grew its position in Ascendis Pharma A/S by 2.3% during 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 purchasing an additional 195 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ascendis Pharma A/S in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group raised its holdings in shares of 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 purchasing an additional 273 shares during the last quarter. GF Fund Management CO. LTD. boosted its position in Ascendis Pharma A/S by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,544 shares of the biotechnology company's stock worth $241,000 after purchasing an additional 278 shares during the period. Finally, Aristeia Capital L.L.C. grew its stake in shares of Ascendis Pharma A/S by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,300 shares of the biotechnology company's stock valued at $1,761,000 after acquiring an additional 500 shares in the last quarter.

Ascendis Pharma A/S Price Performance

Shares of ASND traded down $1.69 during midday trading on Friday, hitting $197.68. 688,058 shares of the company traded hands, compared to its average volume of 341,201. The firm has a market cap of $12.10 billion, a P/E ratio of -38.31 and a beta of 0.39. Ascendis Pharma A/S has a one year low of $118.03 and a one year high of $208.16. The stock has a 50-day moving average of $187.70 and a 200-day moving average of $171.03.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.49. The business had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. Sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. Morgan Stanley started coverage on Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $295.00 price objective (up previously from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Finally, Stifel Nicolaus boosted their price target on Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Fifteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ascendis Pharma A/S presently has an average rating of "Buy" and an average price target of $244.36.

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.