Cinctive Capital Management LP Trims Stake in Ascendis Pharma A/S (NASDAQ:ASND)

Cinctive Capital Management LP decreased its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 41.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,271 shares of the biotechnology company's stock after selling 8,079 shares during the period. Cinctive Capital Management LP's holdings in Ascendis Pharma A/S were worth $1,683,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ASND. Erste Asset Management GmbH purchased a new position in Ascendis Pharma A/S during the 3rd quarter worth approximately $2,936,000. Acuta Capital Partners LLC acquired a new position in Ascendis Pharma A/S during the third quarter worth $3,136,000. Finepoint Capital LP raised its holdings in Ascendis Pharma A/S by 0.4% during the third quarter. Finepoint Capital LP now owns 190,072 shares of the biotechnology company's stock worth $28,380,000 after purchasing an additional 800 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ascendis Pharma A/S by 49.5% in the third quarter. The Manufacturers Life Insurance Company now owns 71,307 shares of the biotechnology company's stock worth $10,647,000 after acquiring an additional 23,595 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Ascendis Pharma A/S by 35.3% in the third quarter. Loomis Sayles & Co. L P now owns 184,623 shares of the biotechnology company's stock worth $27,566,000 after acquiring an additional 48,120 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASND. Wells Fargo & Company upped their target price on Ascendis Pharma A/S from $264.00 to $289.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 17th. Evercore ISI raised their price target on Ascendis Pharma A/S from $191.00 to $205.00 and gave the stock an "outperform" rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price target on Ascendis Pharma A/S from $180.00 to $174.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Oppenheimer lowered their price target on Ascendis Pharma A/S from $190.00 to $180.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. Finally, Jefferies Financial Group raised their target price on Ascendis Pharma A/S from $174.00 to $196.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Ascendis Pharma A/S presently has a consensus rating of "Moderate Buy" and an average price target of $191.77.

Ascendis Pharma A/S Trading Down 0.3 %

ASND stock traded down $0.34 during trading hours on Wednesday, hitting $131.01. 510,577 shares of the stock traded hands, compared to its average volume of 451,798. Ascendis Pharma A/S has a one year low of $101.43 and a one year high of $161.00. The company has a market cap of $7.94 billion, a P/E ratio of -16.26 and a beta of 0.67. The stock has a 50-day simple moving average of $131.37 and a 200 day simple moving average of $132.53.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.51). The company had revenue of $38.75 million during the quarter, compared to analysts' expectations of $94.74 million. Analysts forecast that Ascendis Pharma A/S will post -7.45 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.