Zimmer Partners LP Has $5.63 Million Stock Position in Ascendis Pharma A/S $ASND

Key Points

• Zimmer Partners LP reduced its holdings in Ascendis Pharma A/S by 62.7%, owning 36,100 shares valued at approximately $5.63 million after selling 60,800 shares in the first quarter.
• Analysts have issued positive outlooks for Ascendis Pharma A/S, with Citigroup updating its target price to $290.00 and a majority giving the stock a "Buy" rating.
• Ascendis Pharma A/S reported a better-than-expected earnings per share of ($0.93), surpassing analyst estimates and with revenue of $216.28 million for the quarter.

Zimmer Partners LP lowered its holdings in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 62.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,100 shares of the biotechnology company's stock after selling 60,800 shares during the period. Zimmer Partners LP owned about 0.06% of Ascendis Pharma A/S worth $5,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ASND. PNC Financial Services Group Inc. raised its position in shares of Ascendis Pharma A/S by 2.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,578 shares of the biotechnology company's stock valued at $1,337,000 after purchasing an additional 195 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ascendis Pharma A/S during the 4th quarter worth about $28,000. Brooklyn Investment Group grew its stake in Ascendis Pharma A/S by 332.9% in the 1st quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company's stock valued at $55,000 after buying an additional 273 shares during the last quarter. GF Fund Management CO. LTD. raised its holdings in Ascendis Pharma A/S by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,544 shares of the biotechnology company's stock valued at $241,000 after acquiring an additional 278 shares during the period. Finally, Aristeia Capital L.L.C. lifted its position in Ascendis Pharma A/S by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,300 shares of the biotechnology company's stock worth $1,761,000 after acquiring an additional 500 shares during the last quarter.

Ascendis Pharma A/S Price Performance

ASND traded down $2.09 on Friday, hitting $195.58. 227,293 shares of the stock were exchanged, compared to its average volume of 406,870. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of -37.90 and a beta of 0.39. Ascendis Pharma A/S has a 12 month low of $114.53 and a 12 month high of $208.16. The business has a 50-day moving average of $185.36 and a two-hundred day moving average of $169.61.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on ASND shares. Bank of America upped their target price on Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Cowen reissued a "buy" rating on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Morgan Stanley began coverage on shares of Ascendis Pharma A/S in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $250.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating and set a $224.00 price target (up from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Finally, Wedbush boosted their price objective on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Fifteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $244.36.

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.