The Manufacturers Life Insurance Company Cuts Position in Ascendis Pharma A/S (NASDAQ:ASND)

The Manufacturers Life Insurance Company cut its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,712 shares of the biotechnology company's stock after selling 6,814 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Ascendis Pharma A/S worth $6,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASND. Private Ocean LLC bought a new position in Ascendis Pharma A/S in the 1st quarter worth $36,000. GAMMA Investing LLC raised its stake in Ascendis Pharma A/S by 52.0% in the first quarter. GAMMA Investing LLC now owns 298 shares of the biotechnology company's stock worth $45,000 after buying an additional 102 shares in the last quarter. Barometer Capital Management Inc. purchased a new stake in Ascendis Pharma A/S in the fourth quarter worth about $126,000. Bessemer Group Inc. boosted its position in Ascendis Pharma A/S by 61.0% during the 1st quarter. Bessemer Group Inc. now owns 876 shares of the biotechnology company's stock valued at $132,000 after acquiring an additional 332 shares in the last quarter. Finally, Searle & CO. bought a new stake in shares of Ascendis Pharma A/S during the second quarter valued at approximately $205,000.

Ascendis Pharma A/S Stock Performance

Shares of ASND stock traded up $1.72 during trading hours on Friday, reaching $142.67. The company had a trading volume of 340,459 shares, compared to its average volume of 450,426. The firm has a market cap of $8.31 billion, a PE ratio of -14.85 and a beta of 0.64. The business has a fifty day moving average price of $135.44 and a 200-day moving average price of $136.35. Ascendis Pharma A/S has a one year low of $85.29 and a one year high of $161.00.

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 the consensus estimate 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. Ascendis Pharma A/S had a negative net margin of 154.18% and a negative return on equity of 16,574.15%. Equities research analysts forecast that Ascendis Pharma A/S will post -7.15 EPS for the current year.

Wall Street Analyst Weigh In

ASND has been the subject of a number of research reports. Oppenheimer reiterated an "outperform" rating and issued a $190.00 price objective (up previously from $180.00) on shares of Ascendis Pharma A/S in a report on Tuesday, September 17th. The Goldman Sachs Group boosted their price objective on shares of Ascendis Pharma A/S from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. decreased their target price on shares of Ascendis Pharma A/S from $174.00 to $165.00 and set an "overweight" rating for the company in a research note on Wednesday, September 4th. Citigroup boosted their price target 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, Evercore ISI upped their price target on Ascendis Pharma A/S from $191.00 to $205.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 17th. 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, Ascendis Pharma A/S presently has an average rating of "Moderate Buy" and a consensus price target of $195.00.

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.