Jain Global LLC Takes $7.15 Million Position in Ascendis Pharma A/S $ASND

Jain Global LLC bought a new stake in Ascendis Pharma A/S (NASDAQ:ASND) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 35,962 shares of the biotechnology company’s stock, valued at approximately $7,150,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASND. Perceptive Advisors LLC acquired a new position in Ascendis Pharma A/S during the 2nd quarter worth approximately $166,367,000. Wellington Management Group LLP grew its stake in Ascendis Pharma A/S by 95.9% in the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock valued at $357,645,000 after acquiring an additional 880,836 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Ascendis Pharma A/S by 2,722.9% during the third quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock valued at $157,791,000 after acquiring an additional 765,561 shares in the last quarter. Spyglass Capital Management LLC acquired a new position in shares of Ascendis Pharma A/S during the third quarter worth approximately $77,267,000. Finally, Two Sigma Investments LP raised its position in shares of Ascendis Pharma A/S by 5,803.2% during the third quarter. Two Sigma Investments LP now owns 183,886 shares of the biotechnology company’s stock worth $36,558,000 after purchasing an additional 180,771 shares during the period.

Ascendis Pharma A/S Trading Up 2.2%

Shares of Ascendis Pharma A/S stock opened at $231.02 on Tuesday. The company has a market capitalization of $14.32 billion, a P/E ratio of -52.50 and a beta of 0.43. The stock has a fifty day simple moving average of $224.60 and a 200 day simple moving average of $211.59. Ascendis Pharma A/S has a 12-month low of $124.06 and a 12-month high of $248.60.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The business had revenue of $290.38 million during the quarter, compared to analyst estimates of $285.35 million. On average, analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ASND. Stifel Nicolaus set a $332.00 price target on shares of Ascendis Pharma A/S in a research report on Wednesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Wells Fargo & Company raised their price objective on shares of Ascendis Pharma A/S from $322.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley reiterated an “overweight” rating and set a $256.00 price objective on shares of Ascendis Pharma A/S in a report on Thursday, February 12th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $255.00 target price on shares of Ascendis Pharma A/S in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.89.

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.