Ascendis Pharma A/S $ASND Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC lifted its stake in Ascendis Pharma A/S (NASDAQ:ASND) by 4,398.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,701 shares of the biotechnology company’s stock after purchasing an additional 166,906 shares during the quarter. Fred Alger Management LLC’s holdings in Ascendis Pharma A/S were worth $33,937,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ASND. Jones Financial Companies Lllp grew its position in Ascendis Pharma A/S by 57.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 83 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Ascendis Pharma A/S in the third quarter worth $74,000. Farther Finance Advisors LLC raised its holdings in shares of Ascendis Pharma A/S by 115.3% in the third quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company’s stock worth $95,000 after buying an additional 256 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Ascendis Pharma A/S by 33.7% during the third quarter. Toth Financial Advisory Corp now owns 595 shares of the biotechnology company’s stock worth $118,000 after buying an additional 150 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Ascendis Pharma A/S by 15.2% during the third quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company’s stock worth $146,000 after buying an additional 97 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ASND shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, January 21st. Bank of America restated a “buy” rating and issued a $262.00 target price on shares of Ascendis Pharma A/S in a research note on Thursday, March 5th. Stifel Nicolaus set a $332.00 price target on Ascendis Pharma A/S in a research report on Wednesday, March 4th. Wolfe Research reiterated an “outperform” rating and set a $260.00 price target on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Finally, Oppenheimer increased their price objective on Ascendis Pharma A/S from $246.00 to $262.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ascendis Pharma A/S has a consensus rating of “Moderate Buy” and a consensus target price of $289.88.

Ascendis Pharma A/S Price Performance

ASND stock opened at $225.98 on Monday. The company has a market capitalization of $14.01 billion, a P/E ratio of -51.36 and a beta of 0.43. Ascendis Pharma A/S has a 12 month low of $124.06 and a 12 month high of $248.60. The firm’s fifty day simple moving average is $224.24 and its 200-day simple moving average is $211.33.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The company had revenue of $290.38 million for the quarter, compared to analysts’ expectations of $285.35 million. As a group, sell-side analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Ascendis Pharma A/S Company 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.