Ascendis Pharma A/S $ASND Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Ascendis Pharma A/S by 12% during the 1st quarter, acquiring 328,278 additional shares and now owning 5.01% of the company valued at approximately $475.97 million.
• Ascendis Pharma A/S recently reported earnings of (-$0.93) EPS, exceeding analyst expectations, with revenue of $216.28 million, significantly above the consensus estimate.
• Multiple analysts have recently updated their price targets for Ascendis Pharma A/S, with the average target price set at $243.36 and a consensus rating of "Buy."

T. Rowe Price Investment Management Inc. lifted its stake in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,053,824 shares of the biotechnology company's stock after acquiring an additional 328,278 shares during the period. T. Rowe Price Investment Management Inc. owned 5.01% of Ascendis Pharma A/S worth $475,970,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ASND. Pursue Wealth Partners LLC purchased a new position in Ascendis Pharma A/S during the 1st quarter worth $226,000. Geode Capital Management LLC grew its stake in Ascendis Pharma A/S by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 57,077 shares of the biotechnology company's stock worth $7,858,000 after buying an additional 629 shares during the last quarter. Sigma Planning Corp purchased a new position in Ascendis Pharma A/S during the 1st quarter worth $236,000. Diversify Advisory Services LLC purchased a new position in Ascendis Pharma A/S during the 1st quarter worth $332,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Ascendis Pharma A/S by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,283,207 shares of the biotechnology company's stock worth $314,330,000 after buying an additional 162,079 shares during the last quarter.

Ascendis Pharma A/S Stock Up 0.8%

Shares of NASDAQ ASND traded up $1.50 during midday trading on Friday, hitting $194.30. The stock had a trading volume of 308,107 shares, compared to its average volume of 572,249. The stock has a 50 day simple moving average of $178.20 and a 200-day simple moving average of $163.47. The company has a market capitalization of $11.89 billion, a PE ratio of -37.66 and a beta of 0.41. Ascendis Pharma A/S has a 1 year low of $111.09 and a 1 year high of $199.99.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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. Bank of America boosted their price target on 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. Cantor Fitzgerald boosted their price target on Ascendis Pharma A/S from $200.00 to $203.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. Finally, Morgan Stanley initiated coverage on Ascendis Pharma A/S in a research note on Thursday, July 3rd. They set an "overweight" rating and a $250.00 price target on the stock. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $243.36.

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.