Ascendis Pharma A/S $ASND Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its holdings in Ascendis Pharma A/S by 2.9%, owning 432,098 shares worth approximately $67.3 million after selling 12,930 shares.
• Ascendis Pharma A/S reported better-than-expected quarterly earnings, with EPS of ($0.93) exceeding the consensus estimate of ($1.42) and revenue of $216.28 million surpassing forecasts.
• Analysts have optimistic outlooks for the stock, setting target prices ranging from $220.00 to $307.00, with a consensus rating of "Buy" and a target of $244.36.

Alliancebernstein L.P. lowered its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 432,098 shares of the biotechnology company's stock after selling 12,930 shares during the period. Alliancebernstein L.P. owned about 0.71% of Ascendis Pharma A/S worth $67,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised 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 worth $1,337,000 after acquiring an additional 195 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group lifted its stake in shares of Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after buying an additional 273 shares during the period. 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 acquiring an additional 278 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Ascendis Pharma A/S by 11.5% during the first quarter. Advisors Asset Management Inc. now owns 9,190 shares of the biotechnology company's stock worth $1,432,000 after acquiring an additional 949 shares during the last quarter.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock opened at $205.91 on Friday. Ascendis Pharma A/S has a one year low of $111.09 and a one year high of $207.00. The company has a 50 day moving average price of $182.68 and a 200 day moving average price of $167.96. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of -39.91 and a beta of 0.39.

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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.49. The business had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. As a group, equities analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer restated an "outperform" rating and set a $224.00 target price (up previously from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Citigroup restated a "buy" rating and set a $290.00 target price (up previously from $243.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Wedbush raised their target price on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. UBS Group reaffirmed a "buy" rating and set a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research report on Friday. Fifteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.

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