Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $13.77, but opened at $13.39. Pharming Group shares last traded at $13.35, with a volume of 653 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PHAR shares. Wall Street Zen cut Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Tuesday, March 24th. Zacks Research upgraded Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings downgraded Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Canaccord Genuity Group initiated coverage on Pharming Group in a research report on Friday, April 10th. They set a “buy” rating and a $37.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.33.

Pharming Group Stock Up 1.5%

The stock has a market capitalization of $960.79 million, a P/E ratio of 85.04 and a beta of -0.04. The company’s 50-day moving average price is $13.14 and its 200 day moving average price is $15.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.06 and a current ratio of 2.63.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). Pharming Group had a net margin of 3.30% and a return on equity of 4.64%. The firm had revenue of $72.45 million for the quarter, compared to analysts’ expectations of $92.06 million. As a group, equities analysts expect that Pharming Group N.V. Sponsored ADR will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A number of hedge funds have recently made changes to their positions in PHAR. EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the second quarter worth about $32,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group in the 4th quarter worth approximately $224,000. Millennium Management LLC bought a new position in Pharming Group in the 4th quarter worth approximately $360,000. Finally, NewEdge Advisors LLC boosted its stake in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $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.