Pharming Group (NASDAQ:PHAR) Shares Gap Down Following Weak Earnings

Key Points

• Pharming Group shares fell from a $10.75 close to a $10.05 open after the company reported disappointing quarterly results.
• Quarterly earnings were $0.02 per share, below the $0.06 analyst consensus, while revenue of $90.2 million also missed expectations of $99.52 million.
• Analyst sentiment is mixed, with three Buy ratings, one Hold and one Sell; MarketBeat reports a consensus Hold rating and a $38.33 target price.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $10.75, but opened at $10.05. Pharming Group shares last traded at $10.13, with a volume of 8,250 shares changing hands.

The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.The business had revenue of $90.20 million for the quarter, compared to analysts' expectations of $99.52 million.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PHAR shares. Zacks Research raised Pharming Group from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. Weiss Ratings lowered Pharming Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Canaccord Genuity Group started coverage on shares of Pharming Group in a report on Friday, April 10th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Pharming Group in a research note on Thursday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pharming Group currently has a consensus rating of "Hold" and a consensus target price of $38.33.

Institutional Trading of Pharming Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in shares of Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock worth $510,000 after acquiring an additional 28,615 shares during the last quarter. Millennium Management LLC acquired a new position in Pharming Group during the fourth quarter worth approximately $360,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group in the 4th quarter valued at $224,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 0.03% of the company's stock.

Pharming Group Price Performance

The company has a market capitalization of $697.18 million, a PE ratio of 61.56 and a beta of -0.04. The company has a current ratio of 2.63, a quick ratio of 2.06 and a debt-to-equity ratio of 0.35. The company's 50 day moving average price is $13.07 and its 200-day moving average price is $15.23.

About Pharming Group

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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