Cinctive Capital Management LP Makes New Investment in Ascendis Pharma A/S $ASND

Key Points

• Cinctive Capital Management LP invested roughly $1.19 million in Ascendis Pharma A/S by acquiring 7,640 shares during the first quarter.
• Shares of Ascendis Pharma A/S have experienced significant analyst upgrades, with several institutions raising their price targets, including Royal Bank of Canada and Bank of America, enhancing the stock's outlook.
• Ascendis Pharma reported a $0.93 EPS for the last quarter, surpassing analyst estimates and indicating stronger than anticipated revenue performance of $216.28 million.

Cinctive Capital Management LP purchased a new position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,640 shares of the biotechnology company's stock, valued at approximately $1,191,000.

Several other institutional investors have also modified their holdings of ASND. Advisors Asset Management Inc. lifted its position in shares of Ascendis Pharma A/S by 11.5% during the 1st quarter. Advisors Asset Management Inc. now owns 9,190 shares of the biotechnology company's stock worth $1,432,000 after purchasing an additional 949 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Ascendis Pharma A/S during the 1st quarter worth $51,029,000. RA Capital Management L.P. lifted its position in shares of Ascendis Pharma A/S by 1.7% during the 1st quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock worth $1,602,474,000 after purchasing an additional 168,752 shares during the last quarter. Braidwell LP purchased a new stake in shares of Ascendis Pharma A/S during the 1st quarter worth $16,632,000. Finally, Point72 Europe London LLP purchased a new stake in shares of Ascendis Pharma A/S during the 1st quarter worth $1,879,000.

Ascendis Pharma A/S Price Performance

Shares of ASND opened at $198.13 on Friday. The stock has a market cap of $12.13 billion, a PE ratio of -38.40 and a beta of 0.39. Ascendis Pharma A/S has a 1-year low of $111.09 and a 1-year high of $204.88. The firm has a fifty day moving average price of $182.00 and a 200 day moving average price of $167.53.

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 analysts' consensus estimates of ($1.42) by $0.49. The business had revenue of $216.28 million during the quarter, compared to analyst estimates of $163.17 million. As a group, equities analysts expect that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of 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. Wedbush lifted their price objective on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Bank of America lifted their price objective on shares of Ascendis Pharma A/S from $227.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday. Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Stifel Nicolaus boosted their price target on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Fifteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $244.36.

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.

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