Candriam S.C.A. Trims Position in Ascendis Pharma A/S $ASND

Candriam S.C.A. lowered its stake in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,115 shares of the biotechnology company’s stock after selling 47,646 shares during the quarter. Candriam S.C.A.’s holdings in Ascendis Pharma A/S were worth $33,678,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new stake in Ascendis Pharma A/S during the 2nd quarter worth approximately $39,000. First Horizon Advisors Inc. acquired a new position in shares of Ascendis Pharma A/S in the second quarter valued at approximately $41,000. Brooklyn Investment Group increased its holdings in shares of Ascendis Pharma A/S by 332.9% in the first quarter. Brooklyn Investment Group now owns 355 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 273 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Ascendis Pharma A/S by 291.1% during the second quarter. Hantz Financial Services Inc. now owns 352 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 262 shares during the last quarter. Finally, LVW Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S during the second quarter worth $202,000.

Ascendis Pharma A/S Stock Down 1.0%

Shares of ASND opened at $199.22 on Thursday. Ascendis Pharma A/S has a 52-week low of $118.03 and a 52-week high of $216.45. The company has a 50-day simple moving average of $201.73 and a 200-day simple moving average of $184.15. The company has a market capitalization of $12.29 billion, a PE ratio of -38.61 and a beta of 0.44.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Citigroup reaffirmed a “buy” rating and issued a $290.00 target price (up previously from $243.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $295.00 price target (up from $289.00) on shares of Ascendis Pharma A/S in a research note on Friday, August 8th. UBS Group reissued a “buy” rating and set a $307.00 price target (up from $306.00) on shares of Ascendis Pharma A/S in a report on Friday, August 8th. Finally, Bank of America lifted their price objective on Ascendis Pharma A/S from $227.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Ascendis Pharma A/S currently has an average rating of “Moderate Buy” and an average target price of $249.80.

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.