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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.23, but opened at $11.81. Pharming Group shares last traded at $12.13, with a volume of 10,922 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PHAR shares. 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 boosted their price objective on Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a research report on Friday. Finally, Wall Street Zen downgraded Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.67.

Pharming Group Stock Down 4.5%

The stock has a 50-day moving average of $12.70 and a 200 day moving average of $14.80. The company has a market capitalization of $826.71 million, a PE ratio of 97.33 and a beta of -0.01. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $90.20 million during the quarter, compared to analysts’ expectations of $99.52 million. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. Sell-side analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PHAR. EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group in the second quarter worth $32,000. SmartHarvest Portfolios LLC bought a new stake in Pharming Group during the fourth quarter valued at $224,000. Millennium Management LLC purchased a new position in Pharming Group during the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC grew its position in Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares in the last quarter. 0.03% of the stock is owned by institutional investors.

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.