Ascendis Pharma A/S $ASND Holdings Decreased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its position in Ascendis Pharma A/S by 16.5%, selling 116,412 shares, and now owns approximately 0.96% of the company valued at $91.6 million.
• Analysts are optimistic about Ascendis Pharma A/S, with multiple firms raising their target prices and maintaining a consensus "Buy" rating, indicating a potential upside for investors.
• Ascendis Pharma A/S reported better-than-expected quarterly earnings, with $216.28 million in revenue, surpassing analysts' expectations, and an EPS of ($0.93), beating the consensus estimate by $0.49.

Wellington Management Group LLP trimmed its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 587,763 shares of the biotechnology company's stock after selling 116,412 shares during the quarter. Wellington Management Group LLP owned approximately 0.96% of Ascendis Pharma A/S worth $91,609,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake 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 valued at $2,810,000 after acquiring an additional 14,518 shares during the last quarter. Pursue Wealth Partners LLC bought a new position in Ascendis Pharma A/S during the 1st quarter valued at $226,000. Geode Capital Management LLC boosted its holdings in Ascendis Pharma A/S by 1.1% in 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 position in Ascendis Pharma A/S in the first quarter worth $236,000. Finally, Diversify Advisory Services LLC acquired a new position in Ascendis Pharma A/S in the first quarter worth $332,000.

Ascendis Pharma A/S Stock Down 1.4%

ASND stock traded down $2.67 during mid-day trading on Wednesday, reaching $194.00. The company had a trading volume of 55,088 shares, compared to its average volume of 490,970. The stock has a market capitalization of $11.87 billion, a P/E ratio of -37.64 and a beta of 0.41. Ascendis Pharma A/S has a one year low of $111.09 and a one year high of $199.99. The stock's 50-day simple moving average is $178.93 and its two-hundred day simple moving average is $164.69.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.93) earnings per share 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 the consensus estimate of $163.17 million. On average, research analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $295.00 price objective (up previously from $289.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Ascendis Pharma A/S from $254.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 19th. Wall Street Zen upgraded Ascendis Pharma A/S from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $224.00 target price (up from $215.00) on shares of Ascendis Pharma A/S in a research note on Friday, June 13th. Fifteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $243.36.

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.