Pharming Group (NASDAQ:PHAR) Sets New 12-Month Low Following Weak Earnings

Key Points

• Pharming Group shares fell 18.2% to a new 52-week low of $9.82 after the company reported quarterly EPS of $0.02, missing the $0.06 consensus estimate.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and an average price target of $38.33, with ratings ranging from Buy to Sell.
• Institutional ownership remains minimal at 0.03%, although several funds recently initiated or expanded positions in the company.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report)'s stock price hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $9.82 and last traded at $9.7590, with a volume of 7964 shares. The stock had previously closed at $12.01.

The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Canaccord Genuity Group began coverage on shares of Pharming Group in a research note on Friday, April 10th. They set a "buy" rating and a $37.00 price target for the company. Weiss Ratings downgraded Pharming Group from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Finally, Wall Street Zen cut 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, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Pharming Group presently has an average rating of "Hold" and an average price target of $38.33.

Institutional Investors Weigh In On Pharming Group

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

Pharming Group Stock Down 18.2%

The business has a fifty day moving average of $13.11 and a 200 day moving average of $15.29. The firm has a market cap of $694.99 million, a P/E ratio of 61.20 and a beta of -0.04. The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35.

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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