Ascendis Pharma A/S $ASND Shares Acquired by Nomura Asset Management Co. Ltd.

Key Points

• Nomura Asset Management increased its stake in Ascendis Pharma by 57.5% in the fourth quarter, buying an additional 15,950 shares and bringing its total to 43,701 shares worth about $9.3 million.
• Ascendis Pharma’s latest quarterly results beat earnings expectations, reporting $0.32 EPS versus the $0.21 consensus, though revenue of $285.45 million came in below estimates.
• Wall Street remains broadly positive on the stock, with an average Buy rating and a consensus price target of about $295.39, while recent insider activity included both a large share sale by one executive and a small purchase by a director.

Nomura Asset Management Co. Ltd. raised its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 57.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,701 shares of the biotechnology company's stock after purchasing an additional 15,950 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.07% of Ascendis Pharma A/S worth $9,319,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. HighVista Strategies LLC boosted its holdings in shares of Ascendis Pharma A/S by 138.1% in the 3rd quarter. HighVista Strategies LLC now owns 7,082 shares of the biotechnology company's stock valued at $1,408,000 after acquiring an additional 4,108 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Ascendis Pharma A/S by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 544,606 shares of the biotechnology company's stock valued at $108,274,000 after acquiring an additional 13,797 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Ascendis Pharma A/S in the 3rd quarter valued at $15,693,000. Avoro Capital Advisors LLC boosted its holdings in shares of Ascendis Pharma A/S by 2.6% in the 3rd quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company's stock valued at $1,015,919,000 after acquiring an additional 130,000 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of Ascendis Pharma A/S by 4,398.1% in the 3rd quarter. Fred Alger Management LLC now owns 170,701 shares of the biotechnology company's stock valued at $33,937,000 after acquiring an additional 166,906 shares during the last quarter.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND opened at $216.79 on Thursday. The company's fifty day moving average price is $233.30 and its 200 day moving average price is $223.59. Ascendis Pharma A/S has a 1 year low of $160.86 and a 1 year high of $250.74. The company has a market capitalization of $13.52 billion, a PE ratio of 25.00 and a beta of 0.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.00.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced 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 firm had revenue of $285.45 million for the quarter, compared to analysts' expectations of $362.47 million. On average, research analysts predict that Ascendis Pharma A/S will post 11.72 earnings per share for the current year.

Analysts Set New Price Targets

ASND has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Wall Street Zen raised shares of Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $256.00 price objective on shares of Ascendis Pharma A/S in a report on Thursday, February 12th. Jefferies Financial Group initiated coverage on shares of Ascendis Pharma A/S in a report on Monday, March 16th. They issued a "buy" rating and a $290.00 price objective on the stock. Finally, Stifel Nicolaus set a $332.00 price objective on shares of Ascendis Pharma A/S in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $295.39.

Insiders Place Their Bets

In related news, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $238.49, for a total transaction of $4,641,015.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jean Jacques Bienaime purchased 400 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the completion of the acquisition, the director directly owned 400 shares of the company's stock, valued at $95,120. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Company 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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