Castleark Management LLC Increases Position in Ascendis Pharma A/S $ASND

Key Points

• Castleark Management LLC increased its stake in Ascendis Pharma by 55.5% in the fourth quarter, ending with 66,336 shares worth about $14.1 million.
• Ascendis Pharma shares were up 1.1% to $218.06, with the company carrying a market cap of $13.6 billion and trading below its 52-week high of $250.74.
• The company beat earnings expectations in its latest quarterly report, posting EPS of $0.32 versus the $0.21 estimate, though revenue fell short of forecasts.

Castleark Management LLC increased its stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 55.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,336 shares of the biotechnology company's stock after purchasing an additional 23,680 shares during the quarter. Castleark Management LLC owned 0.11% of Ascendis Pharma A/S worth $14,145,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in Ascendis Pharma A/S in the 3rd quarter valued at about $26,000. Leonteq Securities AG acquired a new stake in Ascendis Pharma A/S in the 4th quarter valued at about $36,000. Global Retirement Partners LLC grew its stake in Ascendis Pharma A/S by 111.9% in the 4th quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company's stock valued at $46,000 after acquiring an additional 113 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Ascendis Pharma A/S by 75.2% during the 4th quarter. GW&K Investment Management LLC now owns 226 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 97 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Ascendis Pharma A/S by 57.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company's stock worth $44,000 after purchasing an additional 83 shares during the last quarter.

Ascendis Pharma A/S Trading Up 1.1%

ASND opened at $218.06 on Friday. The firm has a market capitalization of $13.60 billion, a P/E ratio of 25.15 and a beta of 0.39. The firm's 50 day moving average is $232.15 and its 200-day moving average is $223.57. Ascendis Pharma A/S has a 52-week low of $160.86 and a 52-week high of $250.74. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.11. The firm had revenue of $285.45 million for the quarter, compared to analysts' expectations of $362.47 million. Analysts expect that Ascendis Pharma A/S will post 14.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ASND. Wells Fargo & Company decreased their price target on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, March 2nd. Citigroup started coverage on shares of Ascendis Pharma A/S in a research report on Monday, May 18th. They issued a "buy" rating and a $355.00 target price on the stock. Wedbush reissued an "outperform" rating and issued a $273.00 target price on shares of Ascendis Pharma A/S in a research report on Thursday, April 9th. Finally, Stifel Nicolaus set a $332.00 target price on shares of Ascendis Pharma A/S in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $295.39.

Insider Buying and Selling

In related news, insider Flemming Steen Jensen sold 19,460 shares of Ascendis Pharma A/S 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean Jacques Bienaime purchased 400 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $237.80 per share, with a total value of $95,120.00. Following the purchase, the director owned 400 shares of the company's stock, valued at approximately $95,120. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Company Profile

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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