Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Sees Large Increase in Short Interest

Key Points

• Short interest surged 279% to 72,693 shares as of August 14, up from 19,179 shares on July 30. About 0.1% of PHAR’s shares are sold short, representing 2.4 days to cover.
• Pharming reported quarterly EPS of $0.02, missing the $0.06 consensus estimate by $0.04. Analysts expect full-year EPS of $0.25.
• Analyst opinions remain mixed: three analysts rate the stock Buy and two rate it Sell, resulting in an overall “Hold” rating and an average price target of $38.67.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 72,693 shares, an increase of 279.0% from the July 30th total of 19,179 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 29,943 shares, the days-to-cover ratio is currently 2.4 days.

Pharming Group Stock Up 1.5%

Pharming Group stock opened at $11.95 on Thursday. The firm has a 50 day moving average price of $12.53 and a two-hundred day moving average price of $14.24. 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 has a 52-week low of $9.62 and a 52-week high of $21.34. The firm has a market cap of $845.82 million, a price-to-earnings ratio of 99.58 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share 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%. Equities analysts predict that Pharming Group will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

PHAR has been the topic of a number of research reports. Oppenheimer reissued an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. Canaccord Genuity Group lifted their price target on shares of Pharming Group from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Wall Street Zen cut shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research downgraded Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $38.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHAR. EverSource Wealth Advisors LLC acquired a new position in Pharming Group in the second quarter valued at approximately $32,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group during the 4th quarter worth approximately $224,000. Millennium Management LLC bought a new stake in shares of Pharming Group in the 4th quarter valued at $360,000. Finally, NewEdge Advisors LLC increased its stake 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 valued at $510,000 after acquiring an additional 28,615 shares in the last quarter. 0.03% of the stock is owned by institutional investors and hedge funds.

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.

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