Allianz Asset Management GmbH grew its holdings in Ascendis Pharma (NASDAQ:ASND) by 48.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,370 shares of the biotechnology company’s stock after buying an additional 57,920 shares during the quarter. Allianz Asset Management GmbH owned 0.49% of Ascendis Pharma worth $7,145,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Ascendis Pharma during the fourth quarter worth approximately $17,279,000. VHCP Management II LLC increased its position in shares of Ascendis Pharma by 31.7% during the third quarter. VHCP Management II LLC now owns 1,299,052 shares of the biotechnology company’s stock worth $47,091,000 after purchasing an additional 312,560 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Ascendis Pharma during the third quarter worth approximately $7,163,000. Ascend Capital LLC purchased a new stake in shares of Ascendis Pharma during the fourth quarter worth approximately $4,992,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Ascendis Pharma during the third quarter worth approximately $3,988,000. Institutional investors and hedge funds own 73.48% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research upgraded Ascendis Pharma from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 21st. BidaskClub raised Ascendis Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. ValuEngine raised Ascendis Pharma from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Leerink Swann reissued a “market perform” rating and set a $64.00 price objective (up previously from $37.00) on shares of Ascendis Pharma in a research note on Monday, April 2nd. Finally, Credit Suisse Group boosted their price objective on Ascendis Pharma from $50.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 20th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $65.83.
NASDAQ ASND traded down $2.16 on Friday, reaching $58.55. 104,446 shares of the company were exchanged, compared to its average volume of 132,850. The firm has a market capitalization of $2,520.91, a P/E ratio of -13.52 and a beta of 0.64. Ascendis Pharma has a fifty-two week low of $21.95 and a fifty-two week high of $69.00.
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About Ascendis Pharma
Ascendis Pharma A/S, a clinical stage biopharmaceutical company, develops various prodrug therapies to treat unmet medical needs. It is developing TransCon human growth hormone, which is in Phase III clinical study in children to treat growth hormone deficiency; and TransCon Treprostinil that is in Phase I clinical trial for the treatment of pulmonary arterial hypertension, a life-threatening disease characterized by elevated blood pressure in the pulmonary arteries.
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