Perceptive Advisors LLC Has $350.28 Million Position in Ascendis Pharma A/S $ASND

Key Points

• Perceptive Advisors increased its Ascendis Pharma stake by 41.6% in the first quarter, adding 450,000 shares to hold 1.53 million shares worth approximately $350.3 million, or 2.45% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $296.72; targets range as high as $355.
• Ascendis reported quarterly EPS of $0.32, beating estimates of $0.21, although revenue of $285.45 million fell short of the $362.47 million consensus estimate. Shares recently opened at $243.91, within a 52-week range of $167.27 to $282.15.

Perceptive Advisors LLC increased its position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,531,421 shares of the biotechnology company's stock after buying an additional 450,000 shares during the quarter. Ascendis Pharma A/S comprises about 6.8% of Perceptive Advisors LLC's portfolio, making the stock its 3rd biggest position. Perceptive Advisors LLC owned approximately 2.45% of Ascendis Pharma A/S worth $350,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers bought a new stake in shares of Ascendis Pharma A/S during the second quarter valued at approximately $552,000. Rhumbline Advisers grew its position in Ascendis Pharma A/S by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock valued at $249,000 after purchasing an additional 55 shares during the period. Daiwa Securities Group Inc. grew its position in Ascendis Pharma A/S by 66.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,737 shares of the biotechnology company's stock valued at $645,000 after purchasing an additional 1,488 shares during the period. Qube Research & Technologies Ltd increased its stake in Ascendis Pharma A/S by 83.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 201,044 shares of the biotechnology company's stock valued at $34,700,000 after purchasing an additional 91,412 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Ascendis Pharma A/S during the 2nd quarter valued at $897,000.

Insider Buying and Selling

In related news, insider Flemming Steen Jensen sold 19,460 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $238.49, for a total value of $4,641,015.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jean Jacques Bienaime acquired 400 shares of Ascendis Pharma A/S stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $237.80 per share, with a total value of $95,120.00. Following the completion of the acquisition, the director owned 400 shares of the company's stock, valued at $95,120. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 40.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ASND. Bank of America upped their price objective on shares of Ascendis Pharma A/S from $262.00 to $292.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of Ascendis Pharma A/S in a report on Tuesday, June 9th. Royal Bank Of Canada boosted their target price on shares of Ascendis Pharma A/S from $275.00 to $280.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Ascendis Pharma A/S from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Citigroup assumed coverage on shares of Ascendis Pharma A/S in a research report on Monday, May 18th. They issued a "buy" rating and a $355.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $296.72.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ:ASND opened at $243.91 on Friday. The company has a market capitalization of $15.21 billion, a P/E ratio of 28.13 and a beta of 0.37. The company's 50-day moving average is $244.95 and its 200 day moving average is $234.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.00. Ascendis Pharma A/S has a fifty-two week low of $167.27 and a fifty-two week high of $282.15.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The company had revenue of $285.45 million during the quarter, compared to the consensus estimate of $362.47 million. On average, equities research analysts forecast that Ascendis Pharma A/S will post 4.49 earnings per share for the current year.

About Ascendis Pharma A/S

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company's lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.

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