Here’s the Reason for the Healthy Performance of Ascendis Pharma A/S (ASND)

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Ascendis Pharma A/S (NASDAQ:ASND) in the Q3 2022 investor letter. Headquartered in Hellerup, Denmark, Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical company. On December 23, 2022, Ascendis Pharma A/S (NASDAQ:ASND) stock closed at $119.09 per share. One-month return of Ascendis Pharma A/S (NASDAQ:ASND) was 2.72% and its shares lost 14.52% of their value over the last 52 weeks. Ascendis Pharma A/S (NASDAQ:ASND) has a market capitalization of $6.791 billion.

TimesSquare Capital made the following comment about Ascendis Pharma A/S (NASDAQ:ASND) in its Q3 2022 investor letter:

“Healthier performance came from Ascendis Pharma A/S (NASDAQ:ASND) and its 11% improvement. This biopharmaceutical company focuses on developing therapeutics for unmet medical needs using its transient conjugation. TransCon allows for a slow and sustained release of drug therapies. Their Skytrofa pediatric human growth hormone is commercially available. The company has several endocrine and oncology programs in development. Second quarter results met expectations.”

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Ascendis Pharma A/S (NASDAQ:ASND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Ascendis Pharma A/S (NASDAQ:ASND) at the end of the third quarter, which was 26 in the previous quarter.

We discussed Ascendis Pharma A/S (NASDAQ:ASND) in another article and shared best Guru stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.