Envestnet Asset Management Inc. Purchases 3,232 Shares of Ascendis Pharma A/S $ASND

Envestnet Asset Management Inc. lifted its position in Ascendis Pharma A/S (NASDAQ:ASND) by 14.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,962 shares of the biotechnology company’s stock after buying an additional 3,232 shares during the period. Envestnet Asset Management Inc.’s holdings in Ascendis Pharma A/S were worth $4,963,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ASND. Perceptive Advisors LLC purchased a new position in shares of Ascendis Pharma A/S in the second quarter worth $166,367,000. Principal Financial Group Inc. raised its position in Ascendis Pharma A/S by 2,722.9% in the 3rd quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock worth $157,791,000 after buying an additional 765,561 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Ascendis Pharma A/S by 40.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 459,606 shares of the biotechnology company’s stock valued at $79,328,000 after acquiring an additional 132,201 shares during the period. Marshall Wace LLP grew its stake in shares of Ascendis Pharma A/S by 425.5% in the second quarter. Marshall Wace LLP now owns 117,162 shares of the biotechnology company’s stock worth $20,222,000 after acquiring an additional 94,868 shares during the period. Finally, Braun Stacey Associates Inc. bought a new stake in shares of Ascendis Pharma A/S in the third quarter worth approximately $18,678,000.

Analyst Upgrades and Downgrades

ASND has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Ascendis Pharma A/S in a report on Tuesday, November 18th. They set a “peer perform” rating and a $255.00 target price for the company. Stifel Nicolaus set a $325.00 price objective on Ascendis Pharma A/S in a research note on Thursday, February 12th. Wells Fargo & Company lifted their target price on Ascendis Pharma A/S from $322.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Barclays started coverage on Ascendis Pharma A/S in a report on Tuesday, January 27th. They set an “overweight” rating and a $342.00 price target for the company. Finally, Bank of America raised their price objective on Ascendis Pharma A/S from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $284.00.

Ascendis Pharma A/S Stock Down 2.3%

Shares of NASDAQ:ASND opened at $225.00 on Monday. The firm has a fifty day simple moving average of $216.58 and a two-hundred day simple moving average of $206.96. Ascendis Pharma A/S has a 52 week low of $124.06 and a 52 week high of $242.00. The stock has a market capitalization of $13.95 billion, a P/E ratio of -51.14 and a beta of 0.44.

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