Wellington Management Group LLP Lowers Position in Ascendis Pharma A/S (NASDAQ:ASND)

Wellington Management Group LLP trimmed its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 44.2% in the fourth quarter, Holdings Channel reports. The firm owned 704,175 shares of the biotechnology company’s stock after selling 557,305 shares during the period. Wellington Management Group LLP’s holdings in Ascendis Pharma A/S were worth $96,944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ASND. Schroder Investment Management Group boosted its stake in Ascendis Pharma A/S by 14.5% during the fourth quarter. Schroder Investment Management Group now owns 92,728 shares of the biotechnology company’s stock worth $12,656,000 after buying an additional 11,739 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Ascendis Pharma A/S by 13.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,506 shares of the biotechnology company’s stock worth $2,823,000 after purchasing an additional 2,506 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Ascendis Pharma A/S in the 4th quarter valued at approximately $507,000. NEOS Investment Management LLC increased its holdings in Ascendis Pharma A/S by 43.1% in the 4th quarter. NEOS Investment Management LLC now owns 19,040 shares of the biotechnology company’s stock valued at $2,621,000 after purchasing an additional 5,736 shares during the last quarter. Finally, BIT Capital GmbH lifted its stake in Ascendis Pharma A/S by 8.1% during the fourth quarter. BIT Capital GmbH now owns 73,990 shares of the biotechnology company’s stock worth $10,186,000 after purchasing an additional 5,569 shares in the last quarter.

Ascendis Pharma A/S Price Performance

Ascendis Pharma A/S stock opened at $150.09 on Friday. The stock has a market cap of $9.11 billion, a PE ratio of -21.14 and a beta of 0.61. The stock’s fifty day moving average is $146.11 and its two-hundred day moving average is $138.05. Ascendis Pharma A/S has a 1-year low of $111.09 and a 1-year high of $169.37.

Ascendis Pharma A/S (NASDAQ:ASND) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($1.32) by $0.64. On average, research analysts expect that Ascendis Pharma A/S will post -4.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ASND. The Goldman Sachs Group lifted their price objective on Ascendis Pharma A/S from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group began coverage on shares of Ascendis Pharma A/S in a research note on Tuesday, January 7th. They set a “buy” rating and a $196.00 price target on the stock. Evercore ISI raised their price objective on shares of Ascendis Pharma A/S from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Cantor Fitzgerald upped their target price on shares of Ascendis Pharma A/S from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ascendis Pharma A/S from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.64.

Ascendis Pharma A/S Profile

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.