Goldman Sachs Group Inc. Buys 55,164 Shares of 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. grew its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 585,581 shares of the biotechnology company's stock after buying an additional 55,164 shares during the period. Goldman Sachs Group Inc. owned approximately 0.96% of Ascendis Pharma A/S worth $91,269,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. RA Capital Management L.P. raised its position in shares of Ascendis Pharma A/S by 1.7% during the first 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 buying an additional 168,752 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Ascendis Pharma A/S by 12.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock worth $475,970,000 after purchasing an additional 328,278 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Ascendis Pharma A/S by 0.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,877,917 shares of the biotechnology company's stock worth $292,692,000 after purchasing an additional 10,366 shares in the last quarter. Invesco Ltd. raised its position in Ascendis Pharma A/S by 3.7% in the first quarter. Invesco Ltd. now owns 1,198,478 shares of the biotechnology company's stock worth $186,795,000 after purchasing an additional 42,465 shares in the last quarter. Finally, Vestal Point Capital LP raised its position in Ascendis Pharma A/S by 108.0% in the fourth quarter. Vestal Point Capital LP now owns 520,000 shares of the biotechnology company's stock worth $71,588,000 after purchasing an additional 270,000 shares in the last quarter.

Ascendis Pharma A/S Stock Performance

Ascendis Pharma A/S stock traded down $0.22 during trading hours on Thursday, hitting $199.37. 175,944 shares of the stock were exchanged, compared to its average volume of 365,628. The stock has a market capitalization of $12.20 billion, a P/E ratio of -38.64 and a beta of 0.39. Ascendis Pharma A/S has a 12 month low of $118.03 and a 12 month high of $208.16. The business's 50-day moving average is $187.25 and its two-hundred day moving average is $170.71.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly 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 company had revenue of $216.28 million for the quarter, compared to the consensus estimate of $163.17 million. On average, equities analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ASND. Morgan Stanley began coverage on shares of Ascendis Pharma A/S in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price target for the company. Wall Street Zen lowered shares of Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Bank of America increased their price target 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, September 2nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $295.00 price objective (up from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, UBS Group reaffirmed a "buy" rating and set a $307.00 price objective (up from $306.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $244.36.

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.