Ascendis Pharma A/S (NASDAQ:ASND) Stock Position Decreased by Bank of America Corp DE

Bank of America Corp DE decreased its position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 99.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,383 shares of the biotechnology company's stock after selling 6,037,189 shares during the period. Bank of America Corp DE's holdings in Ascendis Pharma A/S were worth $3,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in Ascendis Pharma A/S by 394.0% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the biotechnology company's stock valued at $34,000 after buying an additional 197 shares during the period. Blue Trust Inc. increased its position in Ascendis Pharma A/S by 415.2% during the fourth quarter. Blue Trust Inc. now owns 407 shares of the biotechnology company's stock worth $56,000 after buying an additional 328 shares during the period. Quarry LP purchased a new stake in Ascendis Pharma A/S in the 4th quarter valued at $96,000. Tower Research Capital LLC TRC raised its stake in Ascendis Pharma A/S by 195.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company's stock valued at $138,000 after acquiring an additional 664 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Ascendis Pharma A/S during the fourth quarter worth about $203,000.

Ascendis Pharma A/S Stock Performance

Shares of NASDAQ ASND traded down $0.71 during trading on Wednesday, hitting $173.69. The company had a trading volume of 537,095 shares, compared to its average volume of 490,350. The business's 50-day moving average is $158.09 and its 200 day moving average is $145.77. The company has a market cap of $10.59 billion, a P/E ratio of -24.46 and a beta of 0.41. Ascendis Pharma A/S has a 52 week low of $111.09 and a 52 week high of $183.00.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.10). The company had revenue of $123.97 million for the quarter, compared to analyst estimates of $98.56 million. On average, research analysts expect that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Wall Street Analysts Forecast Growth

ASND has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Ascendis Pharma A/S from $200.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. The Goldman Sachs Group boosted their target price on shares of Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Wedbush lifted their price objective on Ascendis Pharma A/S from $181.00 to $212.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Bank of America raised their price objective on Ascendis Pharma A/S from $196.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on Ascendis Pharma A/S from $205.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.73.

About Ascendis Pharma A/S

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.