Rhenman & Partners Asset Management AB Invests $3.20 Million in Ascendis Pharma A/S $ASND

Rhenman & Partners Asset Management AB purchased a new position in Ascendis Pharma A/S (NASDAQ:ASND) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 15,000 shares of the biotechnology company’s stock, valued at approximately $3,199,000.

Several other large investors have also recently modified their holdings of the stock. Castleark Management LLC raised its position in shares of Ascendis Pharma A/S by 55.5% in the 4th quarter. Castleark Management LLC now owns 66,336 shares of the biotechnology company’s stock worth $14,145,000 after purchasing an additional 23,680 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Ascendis Pharma A/S by 16.8% in the 4th quarter. Advisors Asset Management Inc. now owns 12,394 shares of the biotechnology company’s stock worth $2,643,000 after purchasing an additional 1,785 shares during the last quarter. HRT Financial LP purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth about $239,000. Brooklyn Investment Group raised its position in shares of Ascendis Pharma A/S by 66.2% in the 4th quarter. Brooklyn Investment Group now owns 2,217 shares of the biotechnology company’s stock worth $468,000 after purchasing an additional 883 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Ascendis Pharma A/S in the 4th quarter worth about $249,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ASND. Wall Street Zen raised Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup initiated coverage on Ascendis Pharma A/S in a report on Monday, May 18th. They issued a “buy” rating and a $355.00 price objective for the company. Evercore reiterated an “outperform” rating and issued a $329.00 price objective on shares of Ascendis Pharma A/S in a report on Friday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Finally, Oppenheimer reiterated an “outperform” rating on shares of Ascendis Pharma A/S in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $295.39.

Insider Activity

In other Ascendis Pharma A/S news, Director Jean Jacques Bienaime acquired 400 shares of Ascendis Pharma A/S stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $237.80 per share, for a total transaction of $95,120.00. Following the acquisition, the director owned 400 shares of the company’s stock, valued at $95,120. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Flemming Steen Jensen sold 19,460 shares of Ascendis Pharma A/S stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $238.49, for a total value of $4,641,015.40. The SEC filing for this sale provides additional information. 40.00% of the stock is currently owned by company insiders.

Ascendis Pharma A/S Price Performance

NASDAQ ASND opened at $218.06 on Friday. Ascendis Pharma A/S has a one year low of $160.86 and a one year high of $250.74. The stock has a 50-day moving average of $232.15 and a 200 day moving average of $223.57. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of 25.15 and a beta of 0.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.00.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $285.45 million during the quarter, compared to the consensus estimate of $362.47 million. On average, sell-side analysts forecast that Ascendis Pharma A/S will post 14.25 EPS for the current 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.