Ascendis Pharma A/S (NASDAQ:ASND) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP holds a significant position in Ascendis Pharma A/S, with 5,479,259 shares, making it approximately 4.2% of its portfolio after a slight reduction in shareholding.
• Ascendis Pharma A/S reported earnings per share of ($1.66), missing expectations of ($1.56), while revenue exceeded forecasts at $123.97 million.
• Several analysts have upgraded their ratings on Ascendis Pharma A/S, with target prices ranging from $200.00 to $250.00, indicating positive market sentiment towards the company's prospects.

Westfield Capital Management Co. LP reduced its stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,479,259 shares of the biotechnology company's stock after selling 48,980 shares during the quarter. Ascendis Pharma A/S makes up approximately 4.2% of Westfield Capital Management Co. LP's investment portfolio, making the stock its largest position. Westfield Capital Management Co. LP owned about 8.99% of Ascendis Pharma A/S worth $853,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Ascendis Pharma A/S by 2.3% in the 1st 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 in the last quarter. Dearborn Partners LLC acquired a new stake in Ascendis Pharma A/S during the 1st quarter worth $203,000. XTX Topco Ltd purchased a new stake in Ascendis Pharma A/S in the first quarter valued at $584,000. TD Asset Management Inc grew its holdings in shares of Ascendis Pharma A/S by 1.1% during the first quarter. TD Asset Management Inc now owns 343,390 shares of the biotechnology company's stock worth $53,521,000 after purchasing an additional 3,738 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Ascendis Pharma A/S by 49.7% in the 1st quarter. Gilbert & Cook Inc. now owns 6,619 shares of the biotechnology company's stock valued at $1,032,000 after purchasing an additional 2,198 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ASND shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, May 12th. JPMorgan Chase & Co. increased their price target on shares of Ascendis Pharma A/S from $245.00 to $254.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Bank of America boosted their target price on Ascendis Pharma A/S from $201.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Citigroup increased their price objective on Ascendis Pharma A/S from $213.00 to $243.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wedbush lifted their price target on shares of Ascendis Pharma A/S from $181.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Ascendis Pharma A/S currently has an average rating of "Moderate Buy" and a consensus price target of $223.67.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock traded down $3.99 on Wednesday, hitting $182.60. The stock had a trading volume of 411,534 shares, compared to its average volume of 458,557. Ascendis Pharma A/S has a 52-week low of $111.09 and a 52-week high of $186.89. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of -29.08 and a beta of 0.41. The stock's 50 day moving average is $172.46 and its 200-day moving average is $157.82.

Ascendis Pharma A/S Company 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.