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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped down prior to trading on Thursday . The stock had previously closed at $11.50, but opened at $10.91. Pharming Group shares last traded at $10.87, with a volume of 3,180 shares.

Wall Street Analyst Weigh In

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

Pharming Group Stock Down 1.4%

The company’s 50-day moving average price is $12.18 and its 200 day moving average price is $13.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a market cap of $765.84 million, a PE ratio of 90.17 and a beta of 0.01.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A number of hedge funds have recently modified their holdings of PHAR. EverSource Wealth Advisors LLC bought a new stake in shares of Pharming Group during the 2nd quarter valued at $32,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the 4th quarter worth $224,000. Millennium Management LLC purchased a new position in Pharming Group during the fourth quarter valued at $360,000. Finally, NewEdge Advisors LLC grew its holdings in Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after purchasing an additional 28,615 shares during the period. Institutional investors 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.