The Manufacturers Life Insurance Company Grows Stock Holdings in Ascendis Pharma A/S (NASDAQ:ASND)

The Manufacturers Life Insurance Company lifted its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND - Free Report) by 49.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,307 shares of the biotechnology company's stock after purchasing an additional 23,595 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Ascendis Pharma A/S worth $10,647,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DNB Asset Management AS acquired a new position in shares of Ascendis Pharma A/S during the second quarter valued at about $456,000. SG Americas Securities LLC grew its holdings in Ascendis Pharma A/S by 221.0% during the second quarter. SG Americas Securities LLC now owns 6,108 shares of the biotechnology company's stock worth $833,000 after buying an additional 4,205 shares in the last quarter. Legato Capital Management LLC raised its position in Ascendis Pharma A/S by 167.6% in the 2nd quarter. Legato Capital Management LLC now owns 4,324 shares of the biotechnology company's stock valued at $590,000 after buying an additional 2,708 shares during the last quarter. Searle & CO. bought a new position in Ascendis Pharma A/S during the 2nd quarter valued at $205,000. Finally, Rhumbline Advisers boosted its holdings in 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 acquiring an additional 143 shares during the last quarter.

Ascendis Pharma A/S Price Performance

ASND stock traded down $0.71 during mid-day trading on Tuesday, reaching $132.80. 107,098 shares of the company traded hands, compared to its average volume of 450,831. The company has a fifty day moving average price of $131.65 and a 200-day moving average price of $132.45. Ascendis Pharma A/S has a 52-week low of $101.43 and a 52-week high of $161.00. The company has a market capitalization of $8.05 billion, a P/E ratio of -16.42 and a beta of 0.67.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $94.74 million. As a group, analysts forecast that Ascendis Pharma A/S will post -7.45 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ASND. StockNews.com raised shares of Ascendis Pharma A/S from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on Ascendis Pharma A/S from $180.00 to $174.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on Ascendis Pharma A/S from $180.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Evercore ISI lifted their target price 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. Finally, Wedbush restated an "outperform" rating and set a $181.00 price target on shares of Ascendis Pharma A/S in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Ascendis Pharma A/S has a consensus rating of "Moderate Buy" and a consensus price target of $191.77.

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.