Short Interest in Pharming Group (NASDAQ:PHAR) Declines By 56.9%

Pharming Group (NASDAQ:PHAR) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,500 shares, a decrease of 56.9% from the March 15th total of 5,800 shares. Based on an average daily volume of 6,500 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Pharming Group Stock Performance

Shares of NASDAQ:PHAR traded down $0.14 during midday trading on Thursday, reaching $8.02. The company had a trading volume of 2,415 shares, compared to its average volume of 6,339. The stock has a market cap of $545.61 million, a P/E ratio of -30.85 and a beta of -0.08. The company’s 50 day moving average price is $8.54 and its 200 day moving average price is $8.69. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. Pharming Group has a 52-week low of $6.65 and a 52-week high of $11.07.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. The company had revenue of $92.70 million for the quarter, compared to the consensus estimate of $76.67 million. As a group, sell-side analysts anticipate that Pharming Group will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

PHAR has been the subject of a number of research reports. Oppenheimer raised their price objective on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, March 20th.

About Pharming Group

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.