Pharming Group (NASDAQ:PHAR) Sets New 12-Month Low – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price hit a new 52-week low on Wednesday. The company traded as low as $9.59 and last traded at $9.65, with a volume of 3833 shares changing hands. The stock had previously closed at $9.68.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Canaccord Genuity Group set a $38.00 price target on shares of Pharming Group in a report on Wednesday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, September 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.67.

Pharming Group Price Performance

The stock has a 50-day moving average price of $10.96 and a two-hundred day moving average price of $13.10. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. The stock has a market cap of $675.24 million, a price-to-earnings ratio of 79.50 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, July 30th. The company reported $0.02 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, equities research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group makes up approximately 6.0% of MAC Alpha Capital Management LP’s investment portfolio, making the stock its 2nd largest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent filing with the Securities and Exchange Commission (SEC). 0.03% of the stock is owned by hedge funds and other institutional investors.

About Pharming Group

Pharming Group N.V. is a global biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and conditions with significant unmet medical needs, using biotechnology and protein-replacement approaches.

Pharming’s commercial products include Ruconest (conestat alfa), a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral therapy for activated phosphoinositide 3-kinase delta syndrome, a rare primary immunodeficiency disorder.