Belpointe Asset Management LLC Takes Position in Ascendis Pharma A/S (NASDAQ:ASND)

Belpointe Asset Management LLC bought a new stake in Ascendis Pharma A/S (NASDAQ:ASND – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 373 shares of the biotechnology company’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Ascendis Pharma A/S by 15.0% in the third quarter. The Manufacturers Life Insurance Company now owns 50,641 shares of the biotechnology company’s stock valued at $5,197,000 after acquiring an additional 6,606 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Ascendis Pharma A/S in the third quarter valued at about $2,270,000. Rice Hall James & Associates LLC lifted its stake in shares of Ascendis Pharma A/S by 6.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 145,739 shares of the biotechnology company’s stock valued at $17,799,000 after purchasing an additional 9,294 shares during the period. Tobam lifted its stake in shares of Ascendis Pharma A/S by 26.3% in the fourth quarter. Tobam now owns 2,528 shares of the biotechnology company’s stock valued at $309,000 after purchasing an additional 526 shares during the period. Finally, Profund Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S in the fourth quarter valued at about $362,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on ASND shares. Morgan Stanley reduced their price objective on shares of Ascendis Pharma A/S from $108.00 to $107.00 in a research note on Wednesday, April 12th. StockNews.com initiated coverage on shares of Ascendis Pharma A/S in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer cut shares of Ascendis Pharma A/S from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 5th. Citigroup cut their target price on shares of Ascendis Pharma A/S from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Wednesday, April 5th. Finally, 3M restated a “maintains” rating on shares of Ascendis Pharma A/S in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ascendis Pharma A/S presently has a consensus rating of “Moderate Buy” and an average price target of $146.00.

Ascendis Pharma A/S Stock Performance

NASDAQ:ASND opened at $88.81 on Thursday. The firm has a 50 day simple moving average of $90.28 and a 200-day simple moving average of $108.06. The company has a debt-to-equity ratio of 2.87, a current ratio of 4.08 and a quick ratio of 3.32. The firm has a market cap of $5.09 billion, a PE ratio of -8.47 and a beta of 0.54. Ascendis Pharma A/S has a 1-year low of $64.33 and a 1-year high of $134.52.

Ascendis Pharma A/S (NASDAQ:ASND – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The biotechnology company reported ($2.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.84) by $0.72. The business had revenue of $36.04 million during the quarter, compared to analyst estimates of $24.53 million. Ascendis Pharma A/S had a negative net margin of 721.72% and a negative return on equity of 150.65%. On average, equities analysts expect that Ascendis Pharma A/S will post -10.55 EPS for the current year.

Ascendis Pharma A/S Company Profile

(Get Rating)

Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. It specializes on its TransCon technologies to create prodrugs that provide for the predictable and sustained release of an unmodified parent drug. The company was founded by Jan Moller Mikkelsen, Dirk Vetter, and Harald Rau in September 2006 and is headquartered in Hellerup, Denmark.