Bank of America Corp DE Acquires 27,303 Shares of Ascendis Pharma A/S (ASND)

Bank of America Corp DE raised its holdings in Ascendis Pharma A/S (NASDAQ:ASND) by 605.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,813 shares of the biotechnology company’s stock after buying an additional 27,303 shares during the period. Bank of America Corp DE owned approximately 0.08% of Ascendis Pharma A/S worth $2,116,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Glen Harbor Capital Management LLC raised its position in shares of Ascendis Pharma A/S by 12.1% in the second quarter. Glen Harbor Capital Management LLC now owns 8,848 shares of the biotechnology company’s stock valued at $589,000 after buying an additional 952 shares during the last quarter. Renaissance Technologies LLC increased its position in Ascendis Pharma A/S by 750.9% during the second quarter. Renaissance Technologies LLC now owns 56,500 shares of the biotechnology company’s stock worth $3,758,000 after purchasing an additional 49,860 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Ascendis Pharma A/S during the second quarter worth approximately $5,795,000. Meadow Creek Investment Management LLC increased its position in Ascendis Pharma A/S by 12.1% during the second quarter. Meadow Creek Investment Management LLC now owns 6,952 shares of the biotechnology company’s stock worth $462,000 after purchasing an additional 748 shares during the last quarter. Finally, Tiverton Asset Management LLC increased its position in Ascendis Pharma A/S by 4.0% during the second quarter. Tiverton Asset Management LLC now owns 43,839 shares of the biotechnology company’s stock worth $2,916,000 after purchasing an additional 1,695 shares during the last quarter. 93.96% of the stock is owned by institutional investors.

Shares of ASND stock opened at $63.38 on Friday. Ascendis Pharma A/S has a one year low of $33.50 and a one year high of $76.99. The company has a market cap of $2.64 billion, a P/E ratio of -14.64 and a beta of 0.82.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Wednesday, August 29th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.37. Ascendis Pharma A/S had a negative net margin of 17,641.85% and a negative return on equity of 49.69%. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.16 million. Equities research analysts expect that Ascendis Pharma A/S will post -4.22 EPS for the current fiscal year.

Several brokerages recently commented on ASND. ValuEngine raised shares of Ascendis Pharma A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. Credit Suisse Group began coverage on shares of Ascendis Pharma A/S in a research report on Friday. They set an “outperform” rating and a $80.00 price target for the company. BidaskClub raised shares of Ascendis Pharma A/S from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Canaccord Genuity began coverage on shares of Ascendis Pharma A/S in a research report on Tuesday, August 7th. They set a “buy” rating and a $81.00 price target for the company. Finally, Wells Fargo & Co upped their price target on shares of Ascendis Pharma A/S from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, August 30th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.89.

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Ascendis Pharma A/S Profile

Ascendis Pharma A/S is a biopharmaceutical company, which engages in the development of drug candidates. Through its TransCon technology, it develops a pipeline of sustained release prodrug therapies including endocrinology product candidates to support the market. The company was founded by Jan Moller Mikkelsen and Harald Rau in September 2006 and is headquartered in Hellerup, Denmark.

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Institutional Ownership by Quarter for Ascendis Pharma A/S (NASDAQ:ASND)

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