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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped down prior to trading on Tuesday. The stock had previously closed at $10.52, but opened at $10.17. Pharming Group shares last traded at $10.15, with a volume of 8,435 shares changing hands.

Analysts Set New Price Targets

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

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a market capitalization of $735.26 million, a PE ratio of 86.57 and a beta of 0.01. The company’s fifty day simple moving average is $11.39 and its two-hundred day simple moving average is $13.41.

Pharming Group (NASDAQ:PHAR) last posted its earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current year.

Institutional Investors 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) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group accounts for 6.0% of MAC Alpha Capital Management LP’s holdings, making the stock its 2nd biggest holding. 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). Institutional investors and hedge funds own 0.03% of the company’s stock.

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming’s principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.