Hsbc Holdings PLC Makes New Investment in Ascendis Pharma A/S $ASND

Key Points

• HSBC Holdings PLC has acquired a new stake in Ascendis Pharma A/S, purchasing 4,378 shares valued at approximately $661,000 during the first quarter.
• Wall Street analysts have raised their target prices for Ascendis Pharma A/S, with JPMorgan raising it to $260 and UBS increasing theirs to $307, indicating a strong belief in the company's growth potential.
• Ascendis Pharma A/S reported earnings of ($0.93) per share, beating analysts' expectations, and generated revenue of $216.28 million for the quarter, surpassing estimates of $163.17 million.

Hsbc Holdings PLC purchased a new stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,378 shares of the biotechnology company's stock, valued at approximately $661,000.

Other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ascendis Pharma A/S during the fourth quarter worth $28,000. Brooklyn Investment Group grew its stake in shares of Ascendis Pharma A/S by 332.9% during the 1st quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 273 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Ascendis Pharma A/S by 195.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company's stock valued at $138,000 after purchasing an additional 664 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Ascendis Pharma A/S in the fourth quarter valued at about $174,000. Finally, Dearborn Partners LLC purchased a new stake in Ascendis Pharma A/S during the first quarter worth about $203,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Ascendis Pharma A/S from $254.00 to $260.00 and gave the company an "overweight" rating in a report on Tuesday, August 19th. UBS Group restated a "buy" rating and issued a $307.00 price target (up previously from $306.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Royal Bank Of Canada lifted their price objective on Ascendis Pharma A/S from $210.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Citigroup reiterated a "buy" rating and set a $290.00 target price (up from $243.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Finally, Cowen restated a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat, Ascendis Pharma A/S has a consensus rating of "Buy" and a consensus target price of $243.36.

Ascendis Pharma A/S Stock Up 0.2%

Shares of NASDAQ:ASND opened at $194.27 on Monday. The company has a market capitalization of $11.89 billion, a P/E ratio of -37.65 and a beta of 0.39. Ascendis Pharma A/S has a 52-week low of $111.09 and a 52-week high of $199.99. The stock's fifty day simple moving average is $180.19 and its 200-day simple moving average is $166.35.

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 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 anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

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.

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