Pharming Group (NASDAQ:PHAR) Shares Gap Down – What’s Next?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped down before the market opened on Friday. The stock had previously closed at $13.40, but opened at $12.69. Pharming Group shares last traded at $12.5650, with a volume of 1,735 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on PHAR shares. Wall Street Zen upgraded Pharming Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 1st. Zacks Research raised Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 23rd. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Wednesday, October 28th. Weiss Ratings raised shares of Pharming Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price target on shares of Pharming Group from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Pharming Group Trading Down 2.9%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.65 and a current ratio of 3.23. The business has a 50-day simple moving average of $10.93 and a two-hundred day simple moving average of $13.53. The stock has a market cap of $890.41 million, a price-to-earnings ratio of 39.31 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. Pharming Group had a net margin of 6.23% and a return on equity of 8.70%. The company had revenue of $117.60 million during the quarter, compared to analysts’ expectations of $117.60 million. As a group, research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP purchased a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises 6.0% of MAC Alpha Capital Management LP’s holdings, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group at the end of the most recent reporting period. 0.03% of the stock is owned by hedge funds and other institutional investors.

About Pharming Group

Pharming Group N.V. is a biotechnology company headquartered in Leiden, the Netherlands, that develops and commercializes medicines for rare and underserved diseases. Founded in 1988, the company has built its business around treatments for disorders involving the immune system. Its marketed products include Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS).