Barometer Capital Management Inc. Buys 2,900 Shares of Ascendis Pharma A/S $ASND

Barometer Capital Management Inc. increased its position in Ascendis Pharma A/S (NASDAQ:ASND) by 288.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,904 shares of the biotechnology company’s stock after purchasing an additional 2,900 shares during the period. Barometer Capital Management Inc.’s holdings in Ascendis Pharma A/S were worth $776,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ASND. Perceptive Advisors LLC bought a new stake in shares of Ascendis Pharma A/S during the second quarter worth about $166,367,000. Principal Financial Group Inc. lifted 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 valued at $157,791,000 after acquiring an additional 765,561 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted 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 purchasing an additional 132,201 shares during the last quarter. Marshall Wace LLP increased its holdings in Ascendis Pharma A/S by 425.5% during the 2nd quarter. Marshall Wace LLP now owns 117,162 shares of the biotechnology company’s stock worth $20,222,000 after purchasing an additional 94,868 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in Ascendis Pharma A/S during the 3rd quarter worth approximately $18,678,000.

Ascendis Pharma A/S Stock Down 5.4%

Shares of ASND opened at $227.50 on Thursday. The business’s 50-day moving average price is $223.67 and its 200-day moving average price is $210.73. Ascendis Pharma A/S has a twelve month low of $124.06 and a twelve month high of $248.60. The stock has a market cap of $14.10 billion, a PE ratio of -51.70 and a beta of 0.43.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ASND has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ascendis Pharma A/S in a report on Wednesday, January 21st. Stifel Nicolaus set a $332.00 price target on shares of Ascendis Pharma A/S in a report on Wednesday, March 4th. Oppenheimer increased their price objective on shares of Ascendis Pharma A/S from $246.00 to $262.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada lifted their target price on shares of Ascendis Pharma A/S from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $289.88.

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.