Moore Capital Management LP Lowers Stock Position in Ascendis Pharma A/S $ASND

Moore Capital Management LP cut its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 25.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the biotechnology company’s stock after selling 30,000 shares during the period. Moore Capital Management LP owned approximately 0.15% of Ascendis Pharma A/S worth $17,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Ascendis Pharma A/S by 57.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 83 shares during the period. Quadrant Capital Group LLC purchased a new stake in Ascendis Pharma A/S in the third quarter valued at approximately $74,000. Farther Finance Advisors LLC raised its position in Ascendis Pharma A/S by 115.3% in the third quarter. Farther Finance Advisors LLC now owns 478 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 256 shares during the period. Toth Financial Advisory Corp lifted its stake in Ascendis Pharma A/S by 33.7% during the third quarter. Toth Financial Advisory Corp now owns 595 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Ascendis Pharma A/S by 15.2% during the third quarter. GAMMA Investing LLC now owns 735 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 97 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ASND. Evercore reaffirmed an “outperform” rating and issued a $324.00 price objective on shares of Ascendis Pharma A/S in a research note on Monday, March 2nd. Oppenheimer increased their target price on Ascendis Pharma A/S from $246.00 to $262.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wedbush raised their target price on Ascendis Pharma A/S from $240.00 to $273.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $332.00 target price on Ascendis Pharma A/S in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group assumed coverage on shares of Ascendis Pharma A/S in a research note on Monday. They set a “buy” rating and a $290.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $289.89.

Ascendis Pharma A/S Stock Performance

ASND opened at $231.02 on Tuesday. Ascendis Pharma A/S has a one year low of $124.06 and a one year high of $248.60. The company has a market cap of $14.32 billion, a P/E ratio of -52.50 and a beta of 0.43. The business’s 50-day simple moving average is $224.60 and its 200-day simple moving average is $211.59.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.58). The firm had revenue of $290.38 million during the quarter, compared to analyst estimates of $285.35 million. As a group, analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Ascendis Pharma A/S Company Profile

Ascendis Pharma A/S is a Denmark‐based biopharmaceutical company focused on developing innovative therapies for rare endocrine diseases. Founded in 2015 and headquartered in Hellerup, the company leverages its proprietary TransCon drug delivery platform to create long‐acting prodrugs designed to improve safety, efficacy and patient convenience. Ascendis Pharma maintains research and development operations in Europe and the United States, with clinical studies spanning North America, Europe and Asia.

The company’s lead product, lonapegsomatropin (Skytrofa®), is a once‐weekly growth hormone therapy approved by the U.S.