Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Short Interest Update

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 72,693 shares, a growth of 279.0% from the July 30th total of 19,179 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,943 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHAR. Zacks Research cut Pharming Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Canaccord Genuity Group boosted their target price on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.67.

Pharming Group Price Performance

NASDAQ PHAR traded down $0.10 during trading hours on Friday, reaching $11.68. 7,371 shares of the company’s stock were exchanged, compared to its average volume of 19,188. The stock has a market cap of $826.69 million, a PE ratio of 97.33 and a beta of -0.01. Pharming Group has a one year low of $9.62 and a one year high of $21.34. The firm has a fifty day moving average of $12.52 and a 200-day moving average of $14.21. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after acquiring an additional 28,615 shares during the last quarter. Millennium Management LLC bought a new position in shares of Pharming Group in the fourth quarter worth about $360,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group during the fourth quarter worth approximately $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Pharming Group during the second quarter worth approximately $32,000. 0.03% of the stock is owned by institutional investors.

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.