Driehaus Capital Management LLC Grows Position in Ascendis Pharma A/S $ASND

Key Points

• Driehaus Capital Management LLC increased its holdings in Ascendis Pharma A/S by 71.6%, owning approximately 151,829 shares valued at about $23.7 million as of its latest SEC filing.
• Ascendis Pharma reported earnings of ($0.93) per share, beating analysts' expectations of ($1.42), alongside a revenue of $216.28 million for the quarter.
• Analysts have shown optimism for Ascendis Pharma, with a consensus rating of "Buy" and an average price target of $243.36 from multiple research firms.

Driehaus Capital Management LLC raised its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 71.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,829 shares of the biotechnology company's stock after buying an additional 63,333 shares during the period. Driehaus Capital Management LLC owned about 0.25% of Ascendis Pharma A/S worth $23,664,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Ascendis Pharma A/S by 2.3% in 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ascendis Pharma A/S during the fourth quarter worth $28,000. Brooklyn Investment Group lifted its holdings in Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock worth $55,000 after buying an additional 273 shares during the period. GF Fund Management CO. LTD. increased its position in shares of 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 in the last quarter. Finally, Mariner LLC increased its position in shares of Ascendis Pharma A/S by 31.0% during the fourth quarter. Mariner LLC now owns 2,160 shares of the biotechnology company's stock worth $297,000 after purchasing an additional 511 shares in the last quarter.

Analyst Ratings Changes

ASND has been the topic of several research reports. UBS Group reissued a "buy" rating and issued a $307.00 target price (up from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Cowen reaffirmed a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Cantor Fitzgerald increased their target price on shares of Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Ascendis Pharma A/S from $254.00 to $260.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada raised their price target on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ascendis Pharma A/S currently has an average rating of "Buy" and a consensus price target of $244.36.

Ascendis Pharma A/S Stock Down 0.9%

Shares of ASND stock traded down $1.89 during trading on Thursday, hitting $198.13. The company had a trading volume of 330,954 shares, compared to its average volume of 521,108. The stock's 50-day moving average is $182.00 and its two-hundred day moving average is $167.53. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of -38.40 and a beta of 0.39. Ascendis Pharma A/S has a 52 week low of $111.09 and a 52 week high of $204.88.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.49. The firm had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million. On average, research analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

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.