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 bought a new position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,378 shares of the biotechnology company's stock, valued at approximately $661,000.

A number of other institutional investors and hedge funds have also modified their holdings of ASND. PNC Financial Services Group Inc. raised its holdings in shares of Ascendis Pharma A/S by 2.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock worth $1,337,000 after acquiring an additional 195 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ascendis Pharma A/S during the 4th quarter worth $28,000. Brooklyn Investment Group grew its stake in Ascendis Pharma A/S by 332.9% during the 1st quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 273 shares during the last quarter. GF Fund Management CO. LTD. lifted its holdings in shares of Ascendis Pharma A/S by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,544 shares of the biotechnology company's stock valued at $241,000 after buying an additional 278 shares during the period. Finally, Mariner LLC raised its holdings in Ascendis Pharma A/S by 31.0% in the 4th quarter. Mariner LLC now owns 2,160 shares of the biotechnology company's stock worth $297,000 after purchasing an additional 511 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ASND. Stifel Nicolaus upped their price target on 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. Wells Fargo & Company restated an "overweight" rating and set a $295.00 price target (up from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Wall Street Zen upgraded Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cantor Fitzgerald raised their price target on Ascendis Pharma A/S from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on Ascendis Pharma A/S from $254.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 19th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $244.36.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock traded up $5.74 during trading hours on Friday, hitting $203.87. The company had a trading volume of 111,958 shares, compared to its average volume of 488,075. The firm's fifty day moving average is $182.00 and its 200-day moving average is $167.53. Ascendis Pharma A/S has a fifty-two week low of $111.09 and a fifty-two week high of $204.88. The firm has a market capitalization of $12.48 billion, a P/E ratio of -39.50 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating analysts' consensus estimates of ($1.42) by $0.49. The company had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. Analysts anticipate that Ascendis Pharma A/S will post -4.34 earnings per share for the current 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.