Invesco Ltd. Buys 42,465 Shares of Ascendis Pharma A/S $ASND

Key Points

• Invesco Ltd. increased its stake in Ascendis Pharma A/S by 3.7% in the first quarter, now owning approximately 1.97% of the company, with a stake worth $186.8 million.
• Ascendis Pharma reported better-than-expected quarterly earnings, with an EPS of ($0.93), surpassing analyst estimates of ($1.42) and achieving a revenue of $216.28 million.
• Analysts have a positive outlook on the stock, with the average target price at $242.93 and 16 analysts rating it as a "buy."

Invesco Ltd. boosted its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,198,478 shares of the biotechnology company's stock after buying an additional 42,465 shares during the quarter. Invesco Ltd. owned approximately 1.97% of Ascendis Pharma A/S worth $186,795,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ASND. Pursue Wealth Partners LLC acquired a new stake in shares of Ascendis Pharma A/S during the 1st quarter valued at $226,000. Geode Capital Management LLC boosted its stake in shares of Ascendis Pharma A/S by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock valued at $7,858,000 after purchasing an additional 629 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Ascendis Pharma A/S during the first quarter valued at about $236,000. Diversify Advisory Services LLC acquired a new stake in shares of Ascendis Pharma A/S during the first quarter valued at about $332,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Ascendis Pharma A/S by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,283,207 shares of the biotechnology company's stock valued at $314,330,000 after purchasing an additional 162,079 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ASND shares. Cantor Fitzgerald lifted their price target on Ascendis Pharma A/S from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Citigroup reaffirmed a "buy" rating and issued a $290.00 price objective (up from $243.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their price objective on Ascendis Pharma A/S from $245.00 to $254.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. UBS Group reissued a "buy" rating and issued a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Royal Bank Of Canada lifted their price objective on Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $242.93.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND traded down $3.96 during midday trading on Monday, hitting $194.36. 267,929 shares of the stock traded hands, compared to its average volume of 493,780. The company has a market cap of $11.90 billion, a PE ratio of -37.67 and a beta of 0.41. Ascendis Pharma A/S has a one year low of $111.09 and a one year high of $199.99. The business has a 50 day moving average price of $176.01 and a two-hundred day moving average price of $161.63.

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) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.49. The firm 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 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.