JPMorgan Chase & Co. Decreases Stake in Ascendis Pharma A/S (NASDAQ:ASND)

JPMorgan Chase & Co. trimmed its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 93.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,834 shares of the biotechnology company's stock after selling 577,428 shares during the period. JPMorgan Chase & Co. owned 0.07% of Ascendis Pharma A/S worth $5,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Ascendis Pharma A/S by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 1,533 shares of the biotechnology company's stock worth $209,000 after buying an additional 143 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Ascendis Pharma A/S by 42.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,927 shares of the biotechnology company's stock worth $945,000 after acquiring an additional 2,048 shares in the last quarter. Seven Eight Capital LP lifted its position in Ascendis Pharma A/S by 245.4% in the second quarter. Seven Eight Capital LP now owns 15,876 shares of the biotechnology company's stock valued at $2,165,000 after acquiring an additional 11,279 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Ascendis Pharma A/S in the second quarter valued at $1,211,000. Finally, Evolutionary Tree Capital Management LLC boosted its stake in Ascendis Pharma A/S by 82.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 24,862 shares of the biotechnology company's stock valued at $3,391,000 after acquiring an additional 11,223 shares in the last quarter.

Ascendis Pharma A/S Stock Down 2.7 %

NASDAQ ASND traded down $3.49 during trading hours on Friday, hitting $128.13. 359,329 shares of the stock were exchanged, compared to its average volume of 438,994. Ascendis Pharma A/S has a 12-month low of $111.09 and a 12-month high of $161.00. The stock has a 50-day moving average of $133.13 and a 200 day moving average of $133.50. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -15.86 and a beta of 0.65.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASND. Wedbush reissued an "outperform" rating and issued a $181.00 target price on shares of Ascendis Pharma A/S in a report on Friday, November 15th. UBS Group initiated coverage on Ascendis Pharma A/S in a research report on Tuesday, January 7th. They set a "buy" rating and a $196.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $170.00 price objective on shares of Ascendis Pharma A/S in a report on Friday, November 15th. Stifel Nicolaus raised 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 research report on Friday, November 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ascendis Pharma A/S from $180.00 to $174.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Ascendis Pharma A/S has an average rating of "Moderate Buy" and a consensus target price of $192.07.

Ascendis Pharma A/S Company 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.