Evolutionary Tree Capital Management LLC Sells 9,459 Shares of Ascendis Pharma A/S (NASDAQ:ASND)

Key Points

• Evolutionary Tree Capital Management LLC reduced its stake in Ascendis Pharma A/S by 31.4%, holding about $3.22 million worth of shares as of the latest SEC filing.
• Ascendis Pharma reported a quarterly earnings per share of ($1.66), missing estimates, but achieved $123.97 million in revenue, exceeding analyst expectations.
• Wall Street analysts have an average price target of $223.67 for Ascendis Pharma, with multiple firms issuing buy ratings and targets ranging up to $280.00.

Evolutionary Tree Capital Management LLC cut its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,656 shares of the biotechnology company's stock after selling 9,459 shares during the period. Ascendis Pharma A/S makes up 3.7% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Evolutionary Tree Capital Management LLC's holdings in Ascendis Pharma A/S were worth $3,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Ascendis Pharma A/S by 94.4% during the 4th quarter. JPMorgan Chase & Co. now owns 77,427 shares of the biotechnology company's stock worth $10,659,000 after purchasing an additional 37,593 shares during the period. Pursue Wealth Partners LLC bought a new stake in shares of Ascendis Pharma A/S during the 1st quarter worth about $226,000. Geode Capital Management LLC lifted its position in Ascendis Pharma A/S by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock worth $7,858,000 after purchasing an additional 629 shares during the period. Sigma Planning Corp bought a new position in Ascendis Pharma A/S during the 1st quarter valued at $236,000. Finally, Diversify Advisory Services LLC bought a new stake in Ascendis Pharma A/S in the first quarter worth about $332,000.

Ascendis Pharma A/S Stock Up 0.0%

Shares of ASND stock traded up $0.03 on Friday, reaching $190.38. The stock had a trading volume of 1,268,693 shares, compared to its average volume of 492,639. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of -30.31 and a beta of 0.41. Ascendis Pharma A/S has a 12 month low of $111.09 and a 12 month high of $199.99. The firm's 50-day moving average is $173.47 and its two-hundred day moving average is $158.42.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its earnings results 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 firm had revenue of $216.28 million during the quarter, compared to analyst estimates of $163.17 million. On average, sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASND. UBS Group lifted their target price on Ascendis Pharma A/S from $306.00 to $307.00 and gave the stock a "buy" rating in a report on Friday. Cantor Fitzgerald lifted their price objective on shares of Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada increased their price objective on Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Stifel Nicolaus increased their price target on shares of Ascendis Pharma A/S from $212.00 to $254.00 and gave the stock a "buy" rating in a research report on Friday. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $236.67.

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.