MAC Alpha Capital Management LP Makes New $29.84 Million Investment in Pharming Group N.V. Sponsored ADR $PHAR

Key Points

• MAC Alpha Capital Management acquired 2.15 million Pharming Group shares worth approximately $29.84 million, representing about 3.03% of the company and 6% of the firm's portfolio.
• PHAR shares opened at $10.55, well below their 52-week high of $21.34. The company recently reported quarterly EPS of $0.02, missing the $0.06 analyst consensus.
• Analyst views are mixed, with three Buy ratings and two Sell ratings; the stock has an overall “Hold” consensus and an average price target of $38.67.

MAC Alpha Capital Management LP acquired a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group accounts for approximately 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 & Exchange Commission.

Pharming Group Price Performance

Shares of NASDAQ:PHAR opened at $10.55 on Monday. The firm has a market cap of $746.73 million, a price-to-earnings ratio of 87.92 and a beta of 0.01. The firm has a fifty day moving average price of $11.71 and a 200 day moving average price of $13.63. Pharming Group N.V. Sponsored ADR has a fifty-two week low of $9.62 and a fifty-two week high of $21.34. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly 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 expect that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PHAR shares. Weiss Ratings reissued a "sell (d)" rating on shares of Pharming Group in a report on Friday, August 7th. Oppenheimer reaffirmed an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. HC Wainwright reiterated a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a research report on Monday, September 14th. Canaccord Genuity Group increased their price objective on shares of Pharming Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Zacks Research downgraded shares of Pharming Group from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.67.

About Pharming Group

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.

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