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

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) 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 traded.

Analyst Upgrades and Downgrades

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

Pharming Group Stock Up 1.5%

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

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.The business had revenue of $72.45 million during the quarter, compared to the consensus estimate of $92.06 million. On average, equities analysts expect that Pharming Group N.V. Sponsored ADR will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC raised its position in shares of Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after buying an additional 28,615 shares in the last quarter. Millennium Management LLC purchased a new position in Pharming Group in the fourth quarter worth about $360,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group in the fourth quarter worth about $224,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Pharming Group during the second quarter worth approximately $32,000. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.