Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped down before the market opened on Wednesday . The stock had previously closed at $12.23, but opened at $11.81. Pharming Group shares last traded at $12.13, with a volume of 10,922 shares changing hands.

Analyst Ratings Changes

PHAR has been the subject of several research analyst reports. Wall Street Zen lowered Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Canaccord Genuity Group boosted their price target on shares of Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Finally, Oppenheimer restated an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Pharming Group currently has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Price Performance

The company has a fifty day simple moving average of $12.69 and a 200-day simple moving average of $14.69. The company has a market cap of $874.13 million, a P/E ratio of 102.92 and a beta of -0.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. On average, sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 earnings per share for the current year.

Institutional Trading of Pharming Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its holdings in shares of Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the period. Millennium Management LLC acquired a new stake in shares of Pharming Group during the fourth quarter valued at approximately $360,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group during the fourth quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

About Pharming Group

Pharming Group N.V. is a clinical-stage biopharmaceutical company headquartered in Leiden, the Netherlands, with a primary focus on developing and commercializing innovative protein replacement therapies for patients living with rare diseases. The company employs a proprietary transgenic technology platform designed to produce recombinant human proteins in the milk of transgenic animals, enabling scalable and cost-efficient manufacturing of complex therapeutic proteins.

The company’s lead product, RUCONEST (recombinant human C1 esterase inhibitor), is approved for the treatment of acute hereditary angioedema (HAE) attacks in multiple markets, including the United States and Europe.