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

Key Points

• Short interest nearly doubled in October, rising 92% to 25,783 shares as of October 30; this represented about 0.0% of shares outstanding, with a 1.4-day short-interest ratio.
• Pharming reported quarterly EPS of $0.30, beating analyst estimates of $0.21, while revenue of $117.6 million matched consensus.
• Analyst sentiment was generally positive: the stock carried a “Moderate Buy” consensus and an average price target of $39.67. MAC Alpha Capital Management also disclosed a new position of about 2.15 million shares.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 25,783 shares, an increase of 92.0% from the October 15th total of 13,429 shares. Based on an average trading volume of 18,220 shares, the short-interest ratio is currently 1.4 days. Approximately 0.0% of the company's stock are sold short.

Pharming Group Stock Performance

PHAR stock traded down $0.35 during midday trading on Friday, hitting $12.60. The company's stock had a trading volume of 5,072 shares, compared to its average volume of 17,426. The stock's 50-day moving average price is $10.96 and its 200 day moving average price is $13.48. The company has a quick ratio of 2.65, a current ratio of 3.23 and a debt-to-equity ratio of 0.32. Pharming Group has a 1 year low of $9.11 and a 1 year high of $21.34. The stock has a market cap of $891.83 million, a price-to-earnings ratio of 39.38 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.09. The firm had revenue of $117.60 million during the quarter, compared to the consensus estimate of $117.60 million. Pharming Group had a return on equity of 8.70% and a net margin of 6.23%. On average, equities analysts forecast that Pharming Group will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PHAR. HC Wainwright reiterated a "buy" rating and issued a $37.00 target price on shares of Pharming Group in a research note on Tuesday, September 22nd. Zacks Research raised shares of Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 23rd. Weiss Ratings upgraded shares of Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Wall Street Zen raised shares of Pharming Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, November 1st. Finally, Canaccord Genuity Group upped their price objective on shares of Pharming Group from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Pharming Group has an average rating of "Moderate Buy" and an average price target of $39.67.

Institutional Trading of Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP purchased a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group comprises 6.0% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company's stock.

Pharming Group Company Profile

Pharming Group N.V. is a biotechnology company headquartered in Leiden, the Netherlands, that develops and commercializes medicines for rare and underserved diseases. Founded in 1988, the company has built its business around treatments for disorders involving the immune system. Its marketed products include Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS).

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