Bank of New York Mellon Corp Reduces Stock Position in Ascendis Pharma A/S $ASND

Bank of New York Mellon Corp reduced its stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 42.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,675 shares of the biotechnology company's stock after selling 165,930 shares during the period. Bank of New York Mellon Corp owned approximately 0.37% of Ascendis Pharma A/S worth $52,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ASND. Rhumbline Advisers grew its position in shares of Ascendis Pharma A/S by 4.0% in the second quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock valued at $249,000 after purchasing an additional 55 shares in the last quarter. Certuity LLC lifted its holdings in Ascendis Pharma A/S by 5.7% during the 4th quarter. Certuity LLC now owns 1,170 shares of the biotechnology company's stock worth $249,000 after purchasing an additional 63 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Ascendis Pharma A/S by 4.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the biotechnology company's stock worth $347,000 after purchasing an additional 64 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Ascendis Pharma A/S by 15.1% in the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company's stock worth $117,000 after purchasing an additional 72 shares during the period. Finally, New Wave Wealth Advisors LLC boosted its stake in Ascendis Pharma A/S by 3.7% in the 4th quarter. New Wave Wealth Advisors LLC now owns 2,518 shares of the biotechnology company's stock worth $537,000 after purchasing an additional 89 shares during the period.

Insider Activity at Ascendis Pharma A/S

In other news, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $238.49, for a total value of $4,641,015.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jean Jacques Bienaime purchased 400 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the acquisition, the director directly owned 400 shares in the company, valued at approximately $95,120. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 40.00% of the stock is currently owned by corporate insiders.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock opened at $252.66 on Friday. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 29.14 and a beta of 0.37. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. The business has a 50-day simple moving average of $243.81 and a 200 day simple moving average of $233.31. Ascendis Pharma A/S has a 52 week low of $160.86 and a 52 week high of $282.15.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $285.45 million during the quarter, compared to analysts' expectations of $362.47 million. On average, research analysts forecast that Ascendis Pharma A/S will post 4.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ASND. Bank of America lifted their target price on Ascendis Pharma A/S from $262.00 to $292.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Evercore restated an "outperform" rating and issued a $329.00 price objective on shares of Ascendis Pharma A/S in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Ascendis Pharma A/S from a "sell (d)" rating to a "hold (c)" rating in a research report on Wednesday, July 15th. Citigroup began coverage on shares of Ascendis Pharma A/S in a research note on Monday, May 18th. They set a "buy" rating and a $355.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $273.00 target price on shares of Ascendis Pharma A/S in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $296.72.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

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