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

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped down before the market opened on Monday . The stock had previously closed at $20.47, but opened at $17.01. Pharming Group shares last traded at $17.30, with a volume of 72,753 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on PHAR. Zacks Research cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pharming Group in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a research report on Saturday, December 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pharming Group presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Pharming Group Stock Performance

The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $17.81 and a 200-day moving average price of $15.13. The stock has a market capitalization of $1.15 billion, a PE ratio of -1,644.36 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Pharming Group had a return on equity of 0.46% and a net margin of 0.30%.The company had revenue of $97.30 million during the quarter, compared to analysts’ expectations of $98.22 million. Research analysts expect that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,979 shares of the company’s stock, valued at approximately $32,000. Hedge funds and other institutional investors own 0.03% of the company’s stock.

Pharming Group Company Profile

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.