Ascendis Pharma A/S $ASND is Resolute Capital Asset Partners LLC's Largest Position

Key Points

• Resolute Capital Asset Partners LLC increased its stake in Ascendis Pharma A/S by 46.3%, acquiring an additional 53,000 shares to hold a total of 167,500 shares, which represents 14.7% of its portfolio.
• Ascendis Pharma A/S has received multiple ratings upgrades from analysts, with price targets raised by firms such as Wedbush and Bank of America, indicating a consensus "buy" rating and an average target price of $243.36.
• The company reported revenues of $216.28 million for its most recent quarter, surpassing analyst expectations, and its earnings per share (EPS) of ($0.93) was better than the anticipated (1.42).

Resolute Capital Asset Partners LLC increased its position in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 46.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,500 shares of the biotechnology company's stock after buying an additional 53,000 shares during the period. Ascendis Pharma A/S accounts for 14.7% of Resolute Capital Asset Partners LLC's holdings, making the stock its biggest holding. Resolute Capital Asset Partners LLC owned about 0.27% of Ascendis Pharma A/S worth $26,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC grew its holdings in Ascendis Pharma A/S by 413.1% during the 1st quarter. HighTower Advisors LLC now owns 18,032 shares of the biotechnology company's stock worth $2,810,000 after acquiring an additional 14,518 shares during the period. Pursue Wealth Partners LLC bought a new stake in shares of Ascendis Pharma A/S during the 1st quarter valued at about $226,000. Geode Capital Management LLC grew its stake in Ascendis Pharma A/S by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock worth $7,858,000 after purchasing an additional 629 shares during the period. Sigma Planning Corp acquired a new stake in Ascendis Pharma A/S during the first quarter worth approximately $236,000. Finally, Diversify Advisory Services LLC bought a new stake in Ascendis Pharma A/S in the first quarter worth approximately $332,000.

Wall Street Analyst Weigh In

ASND has been the topic of a number of research analyst reports. 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 report on Friday, August 8th. Oppenheimer reissued an "outperform" rating and set a $224.00 target price (up from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. Citigroup restated a "buy" rating and issued a $290.00 price target (up from $243.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Morgan Stanley assumed coverage on shares of Ascendis Pharma A/S in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 price target for the company. Finally, Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ascendis Pharma A/S has a consensus rating of "Buy" and a consensus price target of $243.36.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ:ASND traded down $3.65 during midday trading on Wednesday, hitting $193.01. 378,647 shares of the company's stock were exchanged, compared to its average volume of 492,939. Ascendis Pharma A/S has a 12 month low of $111.09 and a 12 month high of $199.99. The company has a market cap of $11.81 billion, a PE ratio of -37.41 and a beta of 0.41. The stock has a 50 day moving average price of $178.93 and a 200-day moving average price of $164.69.

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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.42) by $0.49. The company had revenue of $216.28 million for the quarter, compared to analyst estimates of $163.17 million. On average, analysts anticipate that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

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.