Westfield Capital Management Co. LP Reduces Stock Holdings in Ascendis Pharma A/S $ASND

Westfield Capital Management Co. LP lowered its holdings in shares of Ascendis Pharma A/S (NASDAQ:ASND) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,185,696 shares of the biotechnology company’s stock after selling 74,213 shares during the period. Ascendis Pharma A/S makes up 4.6% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 2nd largest holding. Westfield Capital Management Co. LP owned about 0.08% of Ascendis Pharma A/S worth $1,105,798,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ASND. Advisory Services Network LLC bought a new stake in Ascendis Pharma A/S during the third quarter worth about $26,000. Leonteq Securities AG bought a new stake in Ascendis Pharma A/S during the fourth quarter worth about $36,000. Jones Financial Companies Lllp boosted its stake in Ascendis Pharma A/S by 57.2% during the third quarter. Jones Financial Companies Lllp now owns 228 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 83 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Ascendis Pharma A/S by 111.9% during the fourth quarter. Global Retirement Partners LLC now owns 214 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 113 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Ascendis Pharma A/S in the third quarter worth about $74,000.

Ascendis Pharma A/S Stock Up 0.9%

ASND opened at $218.84 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average price of $233.36 and a 200-day moving average price of $223.69. Ascendis Pharma A/S has a twelve month low of $160.86 and a twelve month high of $250.74. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 25.24 and a beta of 0.39.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The company had revenue of $285.45 million for the quarter, compared to analysts’ expectations of $362.47 million. Equities research analysts forecast that Ascendis Pharma A/S will post 12.85 earnings per share for the current year.

Insider Activity at Ascendis Pharma A/S

In other Ascendis Pharma A/S news, Director Jean Jacques Bienaime bought 400 shares of the business’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 completion of the transaction, the director owned 400 shares of the company’s stock, valued at $95,120. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Flemming Steen Jensen sold 19,460 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $238.49, for a total transaction of $4,641,015.40. The SEC filing for this sale provides additional information. Insiders own 40.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASND. Bank of America lifted their target price on shares of Ascendis Pharma A/S from $262.00 to $292.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Wells Fargo & Company decreased their target price on shares of Ascendis Pharma A/S from $330.00 to $326.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Stifel Nicolaus set a $332.00 target price on shares of Ascendis Pharma A/S in a report on Wednesday, March 4th. Wedbush reaffirmed an “outperform” rating and issued a $273.00 target price on shares of Ascendis Pharma A/S in a report on Thursday, April 9th. Finally, Citigroup began coverage on shares of Ascendis Pharma A/S in a report on Monday, May 18th. They issued a “buy” rating and a $355.00 target price for the company. Two 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $295.39.

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.