Westfield Capital Management Co. LP Lowers Position in Ascendis Pharma A/S (NASDAQ:ASND)

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 trimmed its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and 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 accounts for 4.2% of Westfield Capital Management Co. LP's portfolio, making the stock its largest holding. Westfield Capital Management Co. LP owned approximately 8.99% of Ascendis Pharma A/S worth $853,997,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings 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 valued at $1,337,000 after purchasing an additional 195 shares in the last quarter. Dearborn Partners LLC bought a new position in shares of Ascendis Pharma A/S in the first quarter valued at approximately $203,000. XTX Topco Ltd bought a new position in shares of Ascendis Pharma A/S in the first quarter valued at approximately $584,000. TD Asset Management Inc raised its stake in shares of Ascendis Pharma A/S by 1.1% in the first quarter. TD Asset Management Inc now owns 343,390 shares of the biotechnology company's stock valued at $53,521,000 after acquiring an additional 3,738 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its stake in shares of Ascendis Pharma A/S by 49.7% in the first quarter. Gilbert & Cook Inc. now owns 6,619 shares of the biotechnology company's stock valued at $1,032,000 after acquiring an additional 2,198 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Ascendis Pharma A/S from $213.00 to $243.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Morgan Stanley assumed coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 target price for the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $295.00 target price (up previously from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday. Finally, Bank of America lifted their target price on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Ascendis Pharma A/S has a consensus rating of "Moderate Buy" and a consensus price target of $236.67.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND traded up $0.03 during mid-day trading on Friday, reaching $190.38. 1,268,693 shares of the company's stock were exchanged, compared to its average volume of 492,639. Ascendis Pharma A/S has a one year low of $111.09 and a one year high of $199.99. The firm has a market capitalization of $11.64 billion, a PE ratio of -30.31 and a beta of 0.41. The business's fifty day simple moving average is $173.47 and its two-hundred day simple moving average is $158.42.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) EPS 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 the consensus estimate of $163.17 million. As a group, equities research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current year.

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.