First Turn Management LLC Trims Position in Ascendis Pharma A/S (NASDAQ:ASND)

First Turn Management LLC reduced its position in Ascendis Pharma A/S (NASDAQ:ASND) by 19.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,593 shares of the biotechnology company’s stock after selling 35,988 shares during the quarter. Ascendis Pharma A/S makes up about 3.6% of First Turn Management LLC’s portfolio, making the stock its 8th largest position. First Turn Management LLC owned 0.25% of Ascendis Pharma A/S worth $22,485,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ASND. Thrivent Financial for Lutherans raised its holdings in 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 buying an additional 228 shares during the last quarter. Sivik Global Healthcare LLC bought a new position in Ascendis Pharma A/S during the third quarter valued at about $1,493,000. Oppenheimer Asset Management Inc. grew its position in Ascendis Pharma A/S by 10.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,622 shares of the biotechnology company’s stock valued at $1,138,000 after buying an additional 695 shares during the period. Crossmark Global Holdings Inc. bought a new position in Ascendis Pharma A/S during the third quarter worth about $1,212,000. Finally, Assetmark Inc. bought a new position in Ascendis Pharma A/S during the third quarter worth about $331,000.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND opened at $122.00 on Tuesday. Ascendis Pharma A/S has a one year low of $90.13 and a one year high of $161.00. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -15.10 and a beta of 0.66. The firm’s fifty day moving average is $132.40 and its two-hundred day moving average is $132.47.

Ascendis Pharma A/S (NASDAQ:ASND) last announced its earnings results 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 firm had revenue of $38.75 million for the quarter, compared to analyst estimates of $94.74 million. As a group, equities research analysts predict that Ascendis Pharma A/S will post -7.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ASND shares. TD Cowen lowered their price target on shares of Ascendis Pharma A/S from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Friday. Oppenheimer decreased their price target on shares of Ascendis Pharma A/S from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Ascendis Pharma A/S from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $181.00 target price on shares of Ascendis Pharma A/S in a report on Friday. Finally, Evercore ISI lifted their price target on shares of Ascendis Pharma A/S from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.