Fred Alger Management LLC Trims Position in Ascendis Pharma A/S (NASDAQ:ASND)

Fred Alger Management LLC trimmed its holdings in Ascendis Pharma A/S (NASDAQ:ASND) by 15.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 258,210 shares of the biotechnology company’s stock after selling 48,863 shares during the period. Fred Alger Management LLC’s holdings in Ascendis Pharma A/S were worth $38,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Ascendis Pharma A/S by 13.2% during the third quarter. Signaturefd LLC now owns 686 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 80 shares during the period. Profund Advisors LLC increased its stake in shares of Ascendis Pharma A/S by 3.0% during the second quarter. Profund Advisors LLC now owns 2,919 shares of the biotechnology company’s stock worth $398,000 after acquiring an additional 85 shares during the period. Rhumbline Advisers increased its stake in shares of Ascendis Pharma A/S by 10.3% during the second quarter. Rhumbline Advisers now owns 1,533 shares of the biotechnology company’s stock worth $209,000 after acquiring an additional 143 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Ascendis Pharma A/S by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 78,473 shares of the biotechnology company’s stock worth $11,717,000 after acquiring an additional 228 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Ascendis Pharma A/S by 3.0% during the third quarter. Avior Wealth Management LLC now owns 8,212 shares of the biotechnology company’s stock worth $1,226,000 after acquiring an additional 240 shares during the period.

Ascendis Pharma A/S Price Performance

Shares of NASDAQ ASND opened at $136.32 on Friday. Ascendis Pharma A/S has a 12-month low of $90.13 and a 12-month high of $161.00. The company has a market capitalization of $8.27 billion, a PE ratio of -16.87 and a beta of 0.66. The firm’s 50-day moving average is $132.21 and its two-hundred day moving average is $132.24.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its quarterly earnings data on Tuesday, September 3rd. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.51). The company had revenue of $38.75 million for the quarter, compared to analyst estimates of $94.74 million. On average, analysts forecast that Ascendis Pharma A/S will post -7.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ASND shares. Wells Fargo & Company boosted their price target on shares of Ascendis Pharma A/S from $264.00 to $289.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Wedbush restated an “outperform” rating and set a $181.00 target price on shares of Ascendis Pharma A/S in a research report on Friday, November 15th. Oppenheimer lowered their target price on shares of Ascendis Pharma A/S from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. TD Cowen lowered their target price on shares of Ascendis Pharma A/S from $160.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup upped their target price on shares of Ascendis Pharma A/S from $178.00 to $207.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.77.

Ascendis Pharma A/S Company 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.