Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report)'s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $16.40, but opened at $13.07. Pharming Group shares last traded at $11.8580, with a volume of 26,681 shares changing hands.
The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.12). The business had revenue of $72.45 million for the quarter, compared to analyst estimates of $92.06 million. Pharming Group had a return on equity of 1.08% and a net margin of 0.71%.
Analyst Ratings Changes
PHAR has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $37.00 price target on shares of Pharming Group in a research report on Tuesday, March 24th. Weiss Ratings raised Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, April 27th. Canaccord Genuity Group assumed coverage on Pharming Group in a research report on Friday, April 10th. They issued a "buy" rating and a $37.00 target price on the stock. Zacks Research raised Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Finally, Oppenheimer reissued an "outperform" rating and issued a $41.00 target price (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Pharming Group presently has an average rating of "Moderate Buy" and a consensus target price of $38.33.
View Our Latest Stock Analysis on PHAR
Institutional Investors Weigh In On Pharming Group
Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the 2nd quarter worth about $32,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Pharming Group during the 4th quarter worth about $224,000. Millennium Management LLC purchased a new stake in shares of Pharming Group during the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock worth $510,000 after acquiring an additional 28,615 shares in the last quarter. 0.03% of the stock is owned by hedge funds and other institutional investors.
Pharming Group Stock Performance
The firm's 50 day moving average price is $16.37 and its 200-day moving average price is $16.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.03 and a current ratio of 2.59. The firm has a market capitalization of $873.63 million, a PE ratio of 1,222.10 and a beta of 0.04.
About Pharming Group
(
Get Free Report)
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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