Fred Alger Management LLC Reduces Position in Ascendis Pharma A/S (NASDAQ:ASND)

Fred Alger Management LLC reduced its position in Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 15.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 258,210 shares of the biotechnology company's stock after selling 48,863 shares during the period. Fred Alger Management LLC owned 0.43% of Ascendis Pharma A/S worth $38,553,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. DNB Asset Management AS bought a new stake in shares of Ascendis Pharma A/S in the second quarter valued at approximately $456,000. Harbor Capital Advisors Inc. lifted its position in shares of Ascendis Pharma A/S by 137.2% during the second quarter. Harbor Capital Advisors Inc. now owns 52,200 shares of the biotechnology company's stock worth $7,119,000 after acquiring an additional 30,194 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ascendis Pharma A/S by 221.0% in the second quarter. SG Americas Securities LLC now owns 6,108 shares of the biotechnology company's stock worth $833,000 after acquiring an additional 4,205 shares during the period. Legato Capital Management LLC grew its position in shares of Ascendis Pharma A/S by 167.6% in the second quarter. Legato Capital Management LLC now owns 4,324 shares of the biotechnology company's stock valued at $590,000 after purchasing an additional 2,708 shares in the last quarter. Finally, Searle & CO. bought a new stake in shares of Ascendis Pharma A/S during the 2nd quarter valued at $205,000.

Ascendis Pharma A/S Stock Performance

ASND traded down $0.24 during midday trading on Friday, hitting $136.08. The stock had a trading volume of 491,960 shares, compared to its average volume of 451,948. Ascendis Pharma A/S has a 1 year low of $97.86 and a 1 year high of $161.00. The business has a fifty day moving average of $131.91 and a 200 day moving average of $132.27. The company has a market cap of $8.25 billion, a P/E ratio of -16.84 and a beta of 0.66.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.51). The firm had revenue of $38.75 million for the quarter, compared to the consensus estimate of $94.74 million. On average, equities research analysts anticipate that Ascendis Pharma A/S will post -7.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ASND has been the subject of several analyst reports. Bank of America raised their target price on Ascendis Pharma A/S from $175.00 to $191.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Stifel Nicolaus upped their target price on shares of Ascendis Pharma A/S from $200.00 to $207.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Wells Fargo & Company boosted their price target on shares of Ascendis Pharma A/S from $264.00 to $289.00 and gave the company an "overweight" rating in a research report on Tuesday, September 17th. Citigroup increased their price objective on Ascendis Pharma A/S from $178.00 to $207.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Finally, Wedbush restated an "outperform" rating and set a $181.00 target price on shares of Ascendis Pharma A/S in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Ascendis Pharma A/S has an average rating of "Moderate Buy" and a consensus target price of $191.77.

Ascendis Pharma A/S Profile

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.