Readystate Asset Management LP Has $3.10 Million Position in Ascendis Pharma A/S $ASND

Readystate Asset Management LP lowered its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 84.6% during the third quarter, Holdings Channel reports. The firm owned 15,570 shares of the biotechnology company’s stock after selling 85,347 shares during the period. Readystate Asset Management LP’s holdings in Ascendis Pharma A/S were worth $3,095,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Ascendis Pharma A/S in the 3rd quarter valued at approximately $5,719,000. PNC Financial Services Group Inc. grew its holdings in Ascendis Pharma A/S by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 8,115 shares of the biotechnology company’s stock valued at $1,613,000 after purchasing an additional 414 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Ascendis Pharma A/S by 143.6% in the third quarter. Assetmark Inc. now owns 5,792 shares of the biotechnology company’s stock worth $1,152,000 after buying an additional 3,414 shares during the last quarter. Cibc World Market Inc. bought a new stake in shares of Ascendis Pharma A/S during the 3rd quarter worth $1,226,000. Finally, Advisors Asset Management Inc. grew its stake in Ascendis Pharma A/S by 1.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,609 shares of the biotechnology company’s stock valued at $2,109,000 after buying an additional 137 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Ascendis Pharma A/S from $246.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Royal Bank Of Canada boosted their price objective on Ascendis Pharma A/S from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $256.00 target price on shares of Ascendis Pharma A/S in a report on Thursday, February 12th. Wedbush lifted their price target on Ascendis Pharma A/S from $240.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ascendis Pharma A/S in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $284.00.

Ascendis Pharma A/S Trading Up 3.3%

ASND opened at $223.41 on Wednesday. The stock has a market cap of $13.85 billion, a PE ratio of -50.77 and a beta of 0.44. Ascendis Pharma A/S has a 1 year low of $124.06 and a 1 year high of $242.00. The stock’s 50 day simple moving average is $215.58 and its 200-day simple moving average is $206.06.

Ascendis Pharma A/S (NASDAQ:ASND) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $285.35 million. Equities analysts forecast that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal 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.