Spyglass Capital Management LLC Has $84.17 Million Position in Ascendis Pharma A/S $ASND

Spyglass Capital Management LLC trimmed its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 367,972 shares of the biotechnology company’s stock after selling 47,577 shares during the period. Ascendis Pharma A/S makes up about 6.0% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Spyglass Capital Management LLC owned approximately 0.59% of Ascendis Pharma A/S worth $84,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in Ascendis Pharma A/S by 57.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 43,701 shares of the biotechnology company’s stock worth $9,319,000 after buying an additional 15,950 shares in the last quarter. Candriam S.C.A. increased its stake in shares of Ascendis Pharma A/S by 23.2% in the 1st quarter. Candriam S.C.A. now owns 230,278 shares of the biotechnology company’s stock valued at $52,671,000 after buying an additional 43,338 shares during the period. Braun Stacey Associates Inc. increased its stake in shares of Ascendis Pharma A/S by 26.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 119,095 shares of the biotechnology company’s stock valued at $25,396,000 after buying an additional 25,148 shares during the period. UBS Group AG raised its position in shares of Ascendis Pharma A/S by 57.9% during the fourth quarter. UBS Group AG now owns 308,190 shares of the biotechnology company’s stock worth $65,718,000 after acquiring an additional 112,986 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Ascendis Pharma A/S by 29.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,026,407 shares of the biotechnology company’s stock worth $218,871,000 after acquiring an additional 232,730 shares during the last quarter.

Insider Activity at Ascendis Pharma A/S

In related news, insider Flemming Steen Jensen sold 19,460 shares of Ascendis Pharma A/S stock in a transaction that occurred on 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 accessible through this hyperlink. Also, Director Jean Jacques Bienaime acquired 400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $237.80 per share, with a total value of $95,120.00. Following the acquisition, the director owned 400 shares of the company’s stock, valued at approximately $95,120. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 40.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ASND. Wedbush reiterated an “outperform” rating and issued a $273.00 price target on shares of Ascendis Pharma A/S in a report on Thursday, April 9th. Citigroup initiated coverage on Ascendis Pharma A/S in a report on Monday, May 18th. They set a “buy” rating and a $355.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Morgan Stanley lifted their price target on shares of Ascendis Pharma A/S from $256.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Bank of America boosted their price target on shares of Ascendis Pharma A/S from $262.00 to $292.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $296.72.

Ascendis Pharma A/S Trading Up 0.4%

NASDAQ ASND opened at $254.44 on Wednesday. Ascendis Pharma A/S has a 12 month low of $160.86 and a 12 month high of $282.15. The stock has a 50-day simple moving average of $244.72 and a 200 day simple moving average of $234.20. The company has a current ratio of 1.00, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $15.87 billion, a PE ratio of 29.35 and a beta of 0.37.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share (EPS) for the quarter, topping 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. Research analysts forecast that Ascendis Pharma A/S will post 4.49 EPS for the current year.

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.