Rhenman & Partners Asset Management AB Purchases New Shares in Ascendis Pharma A/S $ASND

Key Points

• Rhenman & Partners Asset Management opened a new position in Ascendis Pharma, buying 15,000 shares worth about $3.2 million in the fourth quarter.
• Other institutions have also been active in the stock, including large increases from Wellington Management and Vestal Point Capital, while analysts remain broadly positive with a “Buy” consensus and a target price around $295.39.
• Ascendis Pharma reported quarterly EPS of $0.32, beating estimates, though revenue of $285.45 million came in below expectations; the stock was last trading at $218.06, below many analysts’ price targets.

Rhenman & Partners Asset Management AB purchased a new stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,000 shares of the biotechnology company's stock, valued at approximately $3,199,000.

Several other large investors have also added to or reduced their stakes in ASND. Perceptive Advisors LLC bought a new stake in Ascendis Pharma A/S in the second quarter valued at $166,367,000. Wellington Management Group LLP boosted its holdings in Ascendis Pharma A/S by 95.9% in the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company's stock valued at $357,645,000 after acquiring an additional 880,836 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Ascendis Pharma A/S by 200.0% in the third quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company's stock valued at $119,286,000 after acquiring an additional 400,000 shares in the last quarter. Spyglass Capital Management LLC bought a new stake in Ascendis Pharma A/S in the third quarter valued at $77,267,000. Finally, Principal Financial Group Inc. boosted its holdings in Ascendis Pharma A/S by 29.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company's stock valued at $218,871,000 after acquiring an additional 232,730 shares in the last quarter.

Ascendis Pharma A/S Stock Performance

Shares of Ascendis Pharma A/S stock opened at $218.06 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $13.60 billion, a P/E ratio of 25.15 and a beta of 0.39. The business has a fifty day simple moving average of $232.15 and a two-hundred day simple moving average of $223.57. Ascendis Pharma A/S has a 12 month low of $160.86 and a 12 month high of $250.74.

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, beating the consensus estimate of $0.21 by $0.11. The firm had revenue of $285.45 million for the quarter, compared to analysts' expectations of $362.47 million. On average, equities analysts forecast that Ascendis Pharma A/S will post 14.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ASND shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $255.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Wolfe Research reiterated an "outperform" rating and issued a $260.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Royal Bank Of Canada lifted their price target on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, March 2nd. Citigroup assumed coverage on shares of Ascendis Pharma A/S in a report on Monday, May 18th. They issued a "buy" rating and a $355.00 price target on the stock. Finally, Barclays raised their price objective on Ascendis Pharma A/S from $342.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Ascendis Pharma A/S has an average rating of "Buy" and a consensus price target of $295.39.

Insider Buying and Selling at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, insider Flemming Steen Jensen sold 19,460 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $238.49, for a total transaction of $4,641,015.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean Jacques Bienaime purchased 400 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $237.80 per share, with a total value of $95,120.00. Following the transaction, the director owned 400 shares in the company, valued at $95,120. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Company Profile

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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