16,584 Shares of Ascendis Pharma A/S $ASND Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Ascendis Pharma A/S (NASDAQ:ASND) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 16,584 shares of the biotechnology company’s stock, valued at approximately $3,778,000.

A number of other large investors have also recently modified their holdings of ASND. Avior Wealth Management LLC purchased a new position in Ascendis Pharma A/S in the third quarter worth $1,193,000. Frazier Life Sciences Management L.P. raised its position in Ascendis Pharma A/S by 68.9% during the second quarter. Frazier Life Sciences Management L.P. now owns 225,155 shares of the biotechnology company’s stock valued at $60,053,000 after purchasing an additional 91,822 shares in the last quarter. Orbimed Advisors LLC raised its position in Ascendis Pharma A/S by 5.8% during the first quarter. Orbimed Advisors LLC now owns 181,977 shares of the biotechnology company’s stock valued at $41,624,000 after purchasing an additional 10,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Ascendis Pharma A/S by 1,105.9% during the third quarter. Assenagon Asset Management S.A. now owns 17,305 shares of the biotechnology company’s stock valued at $3,943,000 after purchasing an additional 15,870 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in Ascendis Pharma A/S during the second quarter worth about $2,863,000.

Insider Activity

In other Ascendis Pharma A/S news, SVP Mads Bodenhoff sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $270.19, for a total value of $810,570.00. Following the completion of the sale, the senior vice president directly owned 3,000 shares in the company, valued at $810,570. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jean-Jacques Bienaimé bought 2,000 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $246.33 per share, with a total value of $492,660.00. Following the purchase, the director owned 2,900 shares in the company, valued at $714,357. This trade represents a 222.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 40.00% of the company’s stock.

Ascendis Pharma A/S Stock Performance

Ascendis Pharma A/S stock opened at $256.82 on Monday. The company has a current ratio of 2.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $16.02 billion, a P/E ratio of 19.92 and a beta of 0.40. Ascendis Pharma A/S has a 1-year low of $188.07 and a 1-year high of $282.15. The firm has a 50-day moving average of $242.50 and a 200-day moving average of $239.00.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results on Friday, August 14th. The biotechnology company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.68). The business had revenue of $387.22 million for the quarter, compared to the consensus estimate of $376.75 million. Ascendis Pharma A/S had a net margin of 70.99% and a return on equity of 32.54%. Sell-side analysts expect that Ascendis Pharma A/S will post 3.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASND. Morgan Stanley reduced their price objective on Ascendis Pharma A/S from $275.00 to $273.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 1st. HC Wainwright set a $344.00 price objective on Ascendis Pharma A/S in a report on Thursday, September 10th. Raymond James Financial downgraded Ascendis Pharma A/S from a “strong-buy” rating to an “outperform” rating and set a $287.00 target price for the company. in a research report on Tuesday, September 15th. Stifel Nicolaus cut their target price on Ascendis Pharma A/S from $328.00 to $326.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Ascendis Pharma A/S in a research note on Thursday, September 10th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Ascendis Pharma A/S has a consensus rating of “Moderate Buy” and an average target price of $305.95.

Ascendis Pharma A/S Profile

Ascendis Pharma A/S is a biopharmaceutical company headquartered in Denmark that develops medicines for rare diseases, with a focus on endocrinology. Founded in 2006, the company uses its TransCon technology platform to design therapies intended to provide sustained delivery of medicines.

Its commercial products include SKYTROFA (lonapegsomatropin), a once-weekly growth hormone treatment for children with growth hormone deficiency, and YORVIPATH (palopegteriparatide), a treatment for adults with hypoparathyroidism.