Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Shares of 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 Analysts Forecast Growth

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

Pharming Group Price Performance

The firm has a market capitalization of $793.44 million, a P/E ratio of 93.42 and a beta of 0.01. The company has a fifty day moving average of $12.07 and a 200 day moving average of $13.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. Sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in Pharming Group in the second quarter valued at $32,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group during the 4th quarter worth about $224,000. Millennium Management LLC bought a new position in shares of Pharming Group in the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC raised its position in shares of 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 acquiring an additional 28,615 shares in the last quarter. 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.