Ascendis Pharma A/S $ASND Stake Cut by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its stake in Ascendis Pharma by 39.8% in the first quarter, selling 9,880 shares and leaving it with 14,929 shares valued at about $3.4 million.
• Wall Street sentiment remains upbeat, with Ascendis Pharma holding a Buy consensus rating and an average price target of $295.39; several analysts recently reaffirmed bullish ratings and targets as high as $332.
• The company posted mixed quarterly results, reporting EPS of $0.32 versus estimates of $0.21, while revenue came in below expectations at $285.45 million versus $362.47 million forecast.

Sterling Capital Management LLC lessened its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 39.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,929 shares of the biotechnology company's stock after selling 9,880 shares during the quarter. Sterling Capital Management LLC's holdings in Ascendis Pharma A/S were worth $3,415,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of Ascendis Pharma A/S by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock worth $249,000 after buying an additional 55 shares during the last quarter. Certuity LLC boosted its holdings in shares of Ascendis Pharma A/S by 5.7% in the 4th quarter. Certuity LLC now owns 1,170 shares of the biotechnology company's stock valued at $249,000 after buying an additional 63 shares during the period. Farther Finance Advisors LLC grew its position in shares of Ascendis Pharma A/S by 15.1% during the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company's stock valued at $117,000 after buying an additional 72 shares during the last quarter. New Wave Wealth Advisors LLC raised its stake in Ascendis Pharma A/S by 3.7% during the fourth quarter. New Wave Wealth Advisors LLC now owns 2,518 shares of the biotechnology company's stock worth $537,000 after acquiring an additional 89 shares during the period. Finally, GW&K Investment Management LLC raised its stake in Ascendis Pharma A/S by 75.2% during the fourth quarter. GW&K Investment Management LLC now owns 226 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 97 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ASND shares. Jefferies Financial Group assumed coverage on Ascendis Pharma A/S in a research note on Monday, March 16th. They issued a "buy" rating and a $290.00 target price for the company. Stifel Nicolaus set a $332.00 price target on Ascendis Pharma A/S in a research report on Wednesday, March 4th. Royal Bank Of Canada increased their price target on Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, March 2nd. Wolfe Research restated an "outperform" rating and set a $260.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and set a $255.00 price objective on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Ascendis Pharma A/S currently has a consensus rating of "Buy" and an average target price of $295.39.

Insider Buying and Selling at Ascendis Pharma A/S

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

Ascendis Pharma A/S Price Performance

Shares of NASDAQ:ASND opened at $260.75 on Friday. The firm's 50 day moving average is $232.43 and its two-hundred day moving average is $225.66. The firm has a market capitalization of $16.27 billion, a P/E ratio of 30.08 and a beta of 0.39. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Ascendis Pharma A/S has a 52 week low of $160.86 and a 52 week high of $271.89.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $285.45 million during the quarter, compared to the consensus estimate of $362.47 million. Analysts anticipate that Ascendis Pharma A/S will post 4.55 earnings per share for the current year.

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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