Goldman Sachs Group Inc. Boosts Holdings in Ascendis Pharma A/S $ASND

Key Points

• Goldman Sachs Group Inc. increased its holdings in Ascendis Pharma A/S by 10.4%, owning 585,581 shares worth approximately $91.27 million as of the 1st quarter.
• Several hedge funds, including Adage Capital Partners and Cinctive Capital Management, have also made significant investments in Ascendis Pharma, highlighting growing institutional interest.
• Ascendis Pharma recently reported better-than-expected earnings, with a revenue of $216.28 million for the quarter, surpassing analyst estimates of $163.17 million.

Goldman Sachs Group Inc. raised its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 10.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,581 shares of the biotechnology company's stock after buying an additional 55,164 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.96% of Ascendis Pharma A/S worth $91,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cinctive Capital Management LP acquired a new position in shares of Ascendis Pharma A/S in the 1st quarter valued at about $1,191,000. Advisors Asset Management Inc. lifted its stake in shares of Ascendis Pharma A/S by 11.5% in the 1st quarter. Advisors Asset Management Inc. now owns 9,190 shares of the biotechnology company's stock valued at $1,432,000 after purchasing an additional 949 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Ascendis Pharma A/S in the 1st quarter valued at about $51,029,000. RA Capital Management L.P. lifted its stake in shares of Ascendis Pharma A/S by 1.7% in the 1st quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock valued at $1,602,474,000 after purchasing an additional 168,752 shares in the last quarter. Finally, Braidwell LP acquired a new position in shares of Ascendis Pharma A/S in the 1st quarter valued at about $16,632,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASND. Citigroup reaffirmed 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. Wedbush lifted their price objective on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wall Street Zen lowered Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Morgan Stanley began coverage on Ascendis Pharma A/S in a research report on Thursday, July 3rd. They set an "overweight" rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $295.00 price target (up from $289.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Fifteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $244.36.

Ascendis Pharma A/S Stock Down 1.1%

Shares of ASND opened at $195.58 on Friday. The business's 50 day moving average is $185.36 and its two-hundred day moving average is $169.49. Ascendis Pharma A/S has a 52-week low of $114.53 and a 52-week high of $208.16. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of -37.90 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share (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. On average, equities analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Ascendis Pharma A/S Company 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.

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