Envestnet Asset Management Inc. Boosts Holdings in Ascendis Pharma A/S $ASND

Envestnet Asset Management Inc. lifted its position in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 83.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,730 shares of the biotechnology company’s stock after buying an additional 9,879 shares during the period. Envestnet Asset Management Inc.’s holdings in Ascendis Pharma A/S were worth $3,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new stake in Ascendis Pharma A/S during the second quarter worth $39,000. Brooklyn Investment Group grew its holdings in shares of Ascendis Pharma A/S by 332.9% during the 1st quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 273 shares during the period. LVW Advisors LLC purchased a new position in shares of Ascendis Pharma A/S during the 2nd quarter worth $202,000. R Squared Ltd acquired a new stake in shares of Ascendis Pharma A/S during the 2nd quarter worth about $209,000. Finally, Dearborn Partners LLC purchased a new stake in Ascendis Pharma A/S in the 1st quarter valued at about $203,000.

Wall Street Analyst Weigh In

A number of research firms have commented on ASND. Wedbush upped their target price on shares of Ascendis Pharma A/S from $212.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Ascendis Pharma A/S from $260.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Raymond James Financial began coverage on shares of Ascendis Pharma A/S in a report on Friday, October 17th. They issued a “strong-buy” rating and a $271.00 target price for the company. Bank of America boosted their target price on Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $295.00 price target (up from $289.00) on shares of Ascendis Pharma A/S in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ascendis Pharma A/S currently has an average rating of “Moderate Buy” and a consensus target price of $256.71.

Ascendis Pharma A/S Trading Down 1.0%

Ascendis Pharma A/S stock opened at $204.40 on Friday. The firm has a market capitalization of $12.61 billion, a P/E ratio of -39.61 and a beta of 0.44. Ascendis Pharma A/S has a twelve month low of $118.03 and a twelve month high of $219.30. The stock’s fifty day simple moving average is $201.86 and its 200-day simple moving average is $184.58.

Ascendis Pharma A/S (NASDAQ:ASND) last released its earnings results on Wednesday, November 12th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.76). The company had revenue of $290.24 million during the quarter, compared to analysts’ expectations of $246.91 million. Sell-side analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.