Westfield Capital Management Co. LP Cuts Stake in Ascendis Pharma A/S $ASND

Key Points

• Westfield Capital Management trimmed its stake in Ascendis Pharma by 1.4% in the fourth quarter, but still held 5.19 million shares worth about $1.11 billion, making ASND its second-largest position.
• Insider activity was mixed: executive Flemming Steen Jensen sold 19,460 shares in May, while director Jean Jacques Bienaime bought 400 shares later that month.
• Ascendis Pharma shares were up 0.9% in the session, and the company recently beat EPS estimates with quarterly earnings of $0.32 per share, even though revenue came in below expectations.

Westfield Capital Management Co. LP lessened its position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,185,696 shares of the biotechnology company's stock after selling 74,213 shares during the period. Ascendis Pharma A/S accounts for 4.6% of Westfield Capital Management Co. LP's investment portfolio, making the stock its 2nd biggest position. Westfield Capital Management Co. LP owned approximately 8.37% of Ascendis Pharma A/S worth $1,105,798,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Ascendis Pharma A/S by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 1,441 shares of the biotechnology company's stock worth $249,000 after acquiring an additional 55 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ascendis Pharma A/S by 1.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,081 shares of the biotechnology company's stock worth $1,209,000 after acquiring an additional 58 shares during the last quarter. Certuity LLC grew its holdings in Ascendis Pharma A/S by 5.7% in the 4th quarter. Certuity LLC now owns 1,170 shares of the biotechnology company's stock worth $249,000 after acquiring an additional 63 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Ascendis Pharma A/S by 15.1% in the 4th quarter. Farther Finance Advisors LLC now owns 550 shares of the biotechnology company's stock worth $117,000 after acquiring an additional 72 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Ascendis Pharma A/S by 57.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company's stock worth $44,000 after acquiring an additional 83 shares during the last quarter.

Insider Transactions at Ascendis Pharma A/S

In related news, insider Flemming Steen Jensen sold 19,460 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $238.49, for a total transaction of $4,641,015.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jean Jacques Bienaime acquired 400 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the purchase, the director directly owned 400 shares of the company's stock, valued at $95,120. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 40.00% of the company's stock.

Ascendis Pharma A/S Trading Up 0.9%

Shares of ASND opened at $218.84 on Friday. The firm's 50-day moving average price is $233.36 and its 200-day moving average price is $223.69. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 25.24 and a beta of 0.39. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Ascendis Pharma A/S has a 1-year low of $160.86 and a 1-year high of $250.74.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.11. The company had revenue of $285.45 million for the quarter, compared to the consensus estimate of $362.47 million. Sell-side analysts anticipate that Ascendis Pharma A/S will post 12.85 EPS for the current year.

Analyst Ratings Changes

ASND has been the topic of a number of recent analyst reports. Wedbush reissued an "outperform" rating and issued a $273.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, April 9th. Wolfe Research reaffirmed an "outperform" rating and set a $260.00 target price on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Citigroup began coverage on shares of Ascendis Pharma A/S in a research note on Monday, May 18th. They set a "buy" rating and a $355.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. Finally, Stifel Nicolaus set a $332.00 target price on shares of Ascendis Pharma A/S in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $295.39.

About Ascendis Pharma A/S

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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