Allspring Global Investments Holdings LLC Has $42.05 Million Position in Ascendis Pharma A/S $ASND

Allspring Global Investments Holdings LLC cut its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,224 shares of the biotechnology company’s stock after selling 3,418 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of Ascendis Pharma A/S worth $42,047,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Ascendis Pharma A/S by 95.9% during the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock worth $357,645,000 after buying an additional 880,836 shares during the last quarter. Principal Financial Group Inc. grew its holdings in 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 purchasing an additional 232,730 shares during the period. Perceptive Advisors LLC bought a new position in Ascendis Pharma A/S during the second quarter worth about $166,367,000. Vestal Point Capital LP increased its position in Ascendis Pharma A/S by 200.0% during the third quarter. Vestal Point Capital LP now owns 600,000 shares of the biotechnology company’s stock worth $119,286,000 after buying an additional 400,000 shares during the last quarter. Finally, FIL Ltd increased its position in Ascendis Pharma A/S by 4.2% during the fourth quarter. FIL Ltd now owns 478,641 shares of the biotechnology company’s stock worth $102,065,000 after buying an additional 19,301 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently commented on ASND shares. Weiss Ratings raised shares of Ascendis Pharma A/S from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday. Bank of America raised their price objective on shares of Ascendis Pharma A/S from $262.00 to $292.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Evercore reaffirmed an “outperform” rating and issued a $329.00 target price on shares of Ascendis Pharma A/S in a research report on Friday, May 15th. Wall Street Zen lowered Ascendis Pharma A/S from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company dropped their price target on Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $295.67.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND opened at $261.00 on Friday. The stock’s 50-day simple moving average is $242.89 and its 200 day simple moving average is $232.02. The firm has a market capitalization of $16.28 billion, a PE ratio of 30.10 and a beta of 0.37. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. Ascendis Pharma A/S has a twelve month low of $160.86 and a twelve month high of $282.15.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $285.45 million for the quarter, compared to analyst estimates of $362.47 million. On average, analysts anticipate that Ascendis Pharma A/S will post 4.63 EPS for the current fiscal year.

Insider Activity at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, Director Jean Jacques Bienaime purchased 400 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $237.80 per share, with a total value of $95,120.00. Following the completion of the purchase, the director owned 400 shares of the company’s stock, valued at approximately $95,120. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Flemming Steen Jensen sold 19,460 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $238.49, for a total value of $4,641,015.40. The disclosure for this sale is available in the SEC filing. Corporate insiders own 40.00% of the company’s stock.

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.