Spyglass Capital Management LLC Buys Shares of 388,647 Ascendis Pharma A/S $ASND

Key Points

• Spyglass Capital initiated a new stake of 388,647 shares (~$77.27M) in Ascendis, representing about 4.1% of its portfolio and ~0.63% ownership of ASND (its 14th-largest holding), while other funds like Avoro, Wellington and Perceptive also materially increased or opened positions.
• ASND traded near $225.98 (12‑month range $124.06–$248.60) with a $14.01B market cap; the company missed EPS estimates (‑$0.64 vs. ‑$0.06) but beat revenue at $290.38M, and analysts remain mostly positive with an average target of about $289.88 (predominantly Buy/Moderate Buy ratings).

Spyglass Capital Management LLC purchased a new position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 388,647 shares of the biotechnology company's stock, valued at approximately $77,267,000. Ascendis Pharma A/S makes up approximately 4.1% of Spyglass Capital Management LLC's portfolio, making the stock its 14th biggest holding. Spyglass Capital Management LLC owned 0.63% of Ascendis Pharma A/S at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Avoro Capital Advisors LLC grew its position in shares of Ascendis Pharma A/S by 2.6% in the 3rd quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company's stock valued at $1,015,919,000 after purchasing an additional 130,000 shares during the period. Capital International Investors lifted its stake in Ascendis Pharma A/S by 0.4% in the third quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company's stock valued at $608,481,000 after buying an additional 13,685 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Ascendis Pharma A/S by 1.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,901,843 shares of the biotechnology company's stock valued at $328,258,000 after buying an additional 23,926 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 880,836 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in shares of Ascendis Pharma A/S in the second quarter valued at approximately $166,367,000.

Ascendis Pharma A/S Stock Down 1.3%

Shares of ASND stock opened at $225.98 on Friday. Ascendis Pharma A/S has a 12 month low of $124.06 and a 12 month high of $248.60. The company's fifty day simple moving average is $224.24 and its 200-day simple moving average is $211.10. The firm has a market cap of $14.01 billion, a PE ratio of -51.36 and a beta of 0.43.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.58). The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $285.35 million. On average, equities analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ASND. Barclays began coverage on shares of Ascendis Pharma A/S in a report on Tuesday, January 27th. They set an "overweight" rating and a $342.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, March 2nd. Evercore reiterated an "outperform" rating and set a $324.00 target price on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Stifel Nicolaus set a $332.00 price target on Ascendis Pharma A/S in a research note on Wednesday, March 4th. Finally, Bank of America restated a "buy" rating and issued a $262.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Ascendis Pharma A/S presently has an average rating of "Moderate Buy" and an average target price of $289.88.

Ascendis Pharma A/S 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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