Ascendis Pharma A/S (NASDAQ:ASND) Position Lessened by Sofinnova Investments Inc.

Sofinnova Investments Inc. cut its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 734,284 shares of the biotechnology company's stock after selling 19,748 shares during the period. Ascendis Pharma A/S makes up 5.2% of Sofinnova Investments Inc.'s investment portfolio, making the stock its 3rd biggest holding. Sofinnova Investments Inc. owned 1.26% of Ascendis Pharma A/S worth $100,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vestal Point Capital LP acquired a new position in shares of Ascendis Pharma A/S in the fourth quarter valued at approximately $78,719,000. GSA Capital Partners LLP purchased a new position in Ascendis Pharma A/S during the 1st quarter worth $992,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Ascendis Pharma A/S by 23.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,781,926 shares of the biotechnology company's stock worth $269,374,000 after acquiring an additional 336,976 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of Ascendis Pharma A/S in the fourth quarter valued at about $5,779,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Ascendis Pharma A/S in the fourth quarter valued at about $16,648,000.

Analysts Set New Price Targets

A number of brokerages recently commented on ASND. Wells Fargo & Company raised their price objective 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. Citigroup lifted their price target on Ascendis Pharma A/S from $178.00 to $207.00 and gave the company a "buy" rating in a research note on Tuesday. TD Cowen cut their price objective on Ascendis Pharma A/S from $175.00 to $157.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Bank of America boosted their target price on shares of Ascendis Pharma A/S from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $190.00 price target (up previously from $180.00) on shares of Ascendis Pharma A/S in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $193.77.

Ascendis Pharma A/S Price Performance

NASDAQ:ASND traded up $7.02 during trading hours on Tuesday, reaching $146.59. 1,993,209 shares of the company traded hands, compared to its average volume of 435,695. The firm's 50-day moving average is $132.51 and its 200-day moving average is $136.47. The stock has a market cap of $8.54 billion, a P/E ratio of -14.97 and a beta of 0.63. Ascendis Pharma A/S has a 1-year low of $85.29 and a 1-year high of $161.00.

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.