Braidwell LP Invests $16.63 Million in Ascendis Pharma A/S $ASND

Key Points

• Braidwell LP has entered a new position in Ascendis Pharma A/S by acquiring 106,713 shares valued at approximately $16.6 million, representing about 0.18% ownership in the company.
• Ascendis Pharma A/S recently reported earnings of ($0.93) per share, exceeding estimates and generating $216.28 million in revenue for the quarter.
• Several analysts have upgraded their outlook on Ascendis Pharma A/S, with Citigroup and UBS Group setting new price targets of $290.00 and $307.00, respectively, reflecting a strong consensus rating of "Buy."

Braidwell LP acquired a new stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 106,713 shares of the biotechnology company's stock, valued at approximately $16,632,000. Braidwell LP owned approximately 0.18% of Ascendis Pharma A/S at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ascendis Pharma A/S during the fourth quarter valued at about $28,000. Brooklyn Investment Group raised its stake in Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after buying an additional 273 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Ascendis Pharma A/S by 195.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company's stock valued at $138,000 after buying an additional 664 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Ascendis Pharma A/S in the fourth quarter valued at about $174,000. Finally, Dearborn Partners LLC purchased a new stake in Ascendis Pharma A/S in the first quarter valued at about $203,000.

Analyst Ratings Changes

ASND has been the subject of a number of research analyst reports. Bank of America increased their price target on Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday. Citigroup restated 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. Wells Fargo & Company restated an "overweight" rating and issued a $295.00 price objective (up from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. UBS Group restated a "buy" rating and issued a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Morgan Stanley assumed coverage on Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ascendis Pharma A/S currently has a consensus rating of "Buy" and a consensus price target of $244.36.

Ascendis Pharma A/S Stock Down 0.9%

ASND traded down $1.89 on Thursday, hitting $198.13. 330,954 shares of the company traded hands, compared to its average volume of 490,438. The company has a 50 day moving average of $181.50 and a 200-day moving average of $167.16. The stock has a market capitalization of $12.13 billion, a PE ratio of -38.40 and a beta of 0.39. Ascendis Pharma A/S has a 12-month low of $111.09 and a 12-month high of $204.88.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted 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 company had revenue of $216.28 million for the quarter, compared to analysts' expectations of $163.17 million. On average, research analysts anticipate that Ascendis Pharma A/S will post -4.34 EPS for the current 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.