Hudson Bay Capital Management LP Invests $15.69 Million in Ascendis Pharma A/S $ASND

Hudson Bay Capital Management LP purchased a new stake in Ascendis Pharma A/S (NASDAQ:ASND) in the third quarter, according to its most recent filing with the SEC. The fund purchased 78,934 shares of the biotechnology company’s stock, valued at approximately $15,693,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in Ascendis Pharma A/S by 2.6% during the third quarter. Avoro Capital Advisors LLC now owns 5,110,000 shares of the biotechnology company’s stock worth $1,015,919,000 after purchasing an additional 130,000 shares during the last quarter. Capital International Investors increased its stake in Ascendis Pharma A/S by 0.4% during the third quarter. Capital International Investors now owns 3,060,616 shares of the biotechnology company’s stock valued at $608,481,000 after purchasing an additional 13,685 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Ascendis Pharma A/S by 95.9% during the third quarter. Wellington Management Group LLP now owns 1,798,931 shares of the biotechnology company’s stock worth $357,645,000 after purchasing an additional 880,836 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Ascendis Pharma A/S during the second quarter worth $166,367,000. Finally, Principal Financial Group Inc. lifted its position in shares of Ascendis Pharma A/S by 2,722.9% in the 3rd quarter. Principal Financial Group Inc. now owns 793,677 shares of the biotechnology company’s stock worth $157,791,000 after buying an additional 765,561 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $255.00 price target on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Wedbush increased their price objective on shares of Ascendis Pharma A/S from $240.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Evercore reissued an “outperform” rating and issued a $324.00 target price on shares of Ascendis Pharma A/S in a report on Monday, March 2nd. Royal Bank Of Canada lifted their target price on Ascendis Pharma A/S from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Barclays started coverage on Ascendis Pharma A/S in a report on Tuesday, January 27th. They set an “overweight” rating and a $342.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $289.89.

Ascendis Pharma A/S Stock Performance

Shares of ASND opened at $223.38 on Friday. The firm has a fifty day moving average of $225.55 and a 200-day moving average of $212.02. The company has a market cap of $13.85 billion, a price-to-earnings ratio of -50.77 and a beta of 0.43. Ascendis Pharma A/S has a 1 year low of $124.06 and a 1 year high of $248.60.

Ascendis Pharma A/S (NASDAQ:ASND) last released its quarterly earnings data on Wednesday, February 11th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The company had revenue of $290.38 million for the quarter, compared to analyst estimates of $285.35 million. Analysts predict that Ascendis Pharma A/S will post -4.34 EPS for the current year.

About Ascendis Pharma A/S

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.