Ascendis Pharma A/S $ASND Stake Trimmed by Matisse Capital

Key Points

• Matisse Capital has reduced its stake in Ascendis Pharma A/S by 5.8%, holding 27,942 shares which represents 2.3% of its investment portfolio.
• Analysts have set new price targets for Ascendis Pharma, with Royal Bank of Canada raising its target from $210 to $230 and Wells Fargo increasing its target from $289 to $295.
• Ascendis Pharma's recent earnings report showed a surprise profit of ($0.93) EPS against expectations of ($1.42), with revenue significantly exceeding estimates at $216.28 million.

Matisse Capital reduced its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,942 shares of the biotechnology company's stock after selling 1,732 shares during the period. Ascendis Pharma A/S comprises 2.3% of Matisse Capital's investment portfolio, making the stock its 4th largest holding. Matisse Capital's holdings in Ascendis Pharma A/S were worth $4,823,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ASND. Compagnie Lombard Odier SCmA purchased a new stake in Ascendis Pharma A/S during the 2nd quarter worth approximately $39,000. Brooklyn Investment Group increased its stake in Ascendis Pharma A/S by 332.9% during the 1st 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. LVW Advisors LLC purchased a new stake in Ascendis Pharma A/S during the 2nd quarter worth approximately $202,000. Dearborn Partners LLC purchased a new stake in Ascendis Pharma A/S during the 1st quarter worth approximately $203,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Ascendis Pharma A/S during the 1st quarter worth approximately $222,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of Ascendis Pharma A/S from $210.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley assumed coverage on shares of Ascendis Pharma A/S in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price objective on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $295.00 price objective (up from $289.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ascendis Pharma A/S in a research report on Saturday, September 27th. Fifteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Ascendis Pharma A/S has an average rating of "Moderate Buy" and an average price target of $244.36.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ:ASND opened at $209.86 on Wednesday. The stock has a market cap of $12.95 billion, a P/E ratio of -40.67 and a beta of 0.41. The firm has a fifty day moving average price of $194.63 and a 200 day moving average price of $174.75. Ascendis Pharma A/S has a 1-year low of $118.03 and a 1-year high of $214.71.

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

Ascendis Pharma A/S Profile

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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