Persistent Asset Partners Ltd Has $297,000 Stock Position in Ascendis Pharma A/S (NASDAQ:ASND)

Key Points

• Persistent Asset Partners Ltd reduced its stake in Ascendis Pharma A/S by 78.7% in Q1, holding 1,906 shares valued at $297,000.
• Ascendis Pharma reported earnings per share of ($0.93), exceeding the consensus estimate of ($1.42) by $0.49, along with revenue of $216.28 million.
• Multiple research firms have raised their price targets on Ascendis Pharma, with estimates reaching as high as $290.00 by Citigroup, emphasizing a generally favorable outlook for the stock.

Persistent Asset Partners Ltd reduced its stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 78.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,906 shares of the biotechnology company's stock after selling 7,034 shares during the quarter. Persistent Asset Partners Ltd's holdings in Ascendis Pharma A/S were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASND. Virtus ETF Advisers LLC lifted its stake in Ascendis Pharma A/S by 3.9% in the fourth quarter. Virtus ETF Advisers LLC now owns 2,676 shares of the biotechnology company's stock valued at $368,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. lifted its stake in Ascendis Pharma A/S by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock valued at $1,337,000 after buying an additional 195 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ascendis Pharma A/S in the fourth quarter valued at approximately $28,000. GF Fund Management CO. LTD. lifted its stake in Ascendis Pharma A/S by 22.0% in the first 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 grew its holdings in Ascendis Pharma A/S by 31.0% during the fourth quarter. Mariner LLC now owns 2,160 shares of the biotechnology company's stock worth $297,000 after buying an additional 511 shares in the last quarter.

Ascendis Pharma A/S Trading Up 2.3%

Shares of NASDAQ:ASND opened at $195.97 on Tuesday. Ascendis Pharma A/S has a 12-month low of $111.09 and a 12-month high of $199.99. The stock has a fifty day simple moving average of $174.44 and a two-hundred day simple moving average of $159.76. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of -37.98 and a beta of 0.41.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.49. The business had revenue of $216.28 million during the quarter, compared to analysts' expectations of $163.17 million. As a group, equities research analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASND. Oppenheimer reiterated an "outperform" rating and set a $224.00 price target (up previously from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. Citigroup reissued a "buy" rating and set a $290.00 price objective (up previously from $243.00) on shares of Ascendis Pharma A/S in a report on Friday. Cantor Fitzgerald increased their price objective on Ascendis Pharma A/S from $200.00 to $203.00 and gave the stock an "overweight" rating in a report on Friday. Wedbush raised their price target on Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Ascendis Pharma A/S from $245.00 to $254.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Seventeen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $239.80.

About Ascendis Pharma A/S

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.