Resolute Capital Asset Partners LLC Buys 53,000 Shares of Ascendis Pharma A/S $ASND

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 stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 46.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,500 shares of the biotechnology company's stock after acquiring an additional 53,000 shares during the period. Ascendis Pharma A/S comprises about 14.7% of Resolute Capital Asset Partners LLC's portfolio, making the stock its largest position. Resolute Capital Asset Partners LLC owned about 0.27% of Ascendis Pharma A/S worth $26,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ascendis Pharma A/S during the fourth quarter worth $28,000. Brooklyn Investment Group raised its holdings in shares of Ascendis Pharma A/S by 332.9% during the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 273 shares during the period. Quarry LP acquired a new stake in shares of Ascendis Pharma A/S during the fourth quarter worth $96,000. Tower Research Capital LLC TRC raised its holdings in shares of Ascendis Pharma A/S by 195.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,004 shares of the biotechnology company's stock worth $138,000 after acquiring an additional 664 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Ascendis Pharma A/S during the fourth quarter worth $174,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ASND. Oppenheimer restated an "outperform" rating and set a $224.00 price objective (up from $215.00) on shares of Ascendis Pharma A/S in a report on Friday, June 13th. Wells Fargo & Company restated an "overweight" rating and set a $295.00 price objective (up from $289.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Morgan Stanley initiated coverage on shares of Ascendis Pharma A/S in a report on Thursday, July 3rd. They set an "overweight" rating and a $250.00 price objective on the stock. Wall Street Zen upgraded shares of Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Bank of America lifted their price target on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Fifteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $243.36.

Ascendis Pharma A/S Stock Up 1.2%

Shares of ASND stock traded up $2.22 on Thursday, reaching $195.23. The stock had a trading volume of 219,684 shares, compared to its average volume of 491,322. The firm's 50-day moving average is $179.38 and its two-hundred day moving average is $164.88. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of -37.84 and a beta of 0.41. Ascendis Pharma A/S has a 12 month low of $111.09 and a 12 month high of $199.99.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its 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 firm had revenue of $216.28 million during the quarter, compared to the consensus estimate of $163.17 million. On average, sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal 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.