Pharming Group (NASDAQ:PHAR) Shares Gap Down - Here's What Happened

Key Points

• Pharming Group's shares opened at $14.18, down from the previous close of $14.55, indicating a gap down in stock price.
• Research analysts have mixed ratings on Pharming Group, with an average target price of $30.00, down from previous strong-buy ratings.
• The company reported earnings of $0.06 per share for the last quarter, surpassing estimates, with significant revenue of $93.20 million.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $14.55, but opened at $14.18. Pharming Group shares last traded at $14.12, with a volume of 4,891 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on PHAR shares. Weiss Ratings restated a "sell (d+)" rating on shares of Pharming Group in a research report on Wednesday, October 8th. Zacks Research lowered shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $30.00.

Pharming Group Price Performance

The company has a current ratio of 2.79, a quick ratio of 2.07 and a debt-to-equity ratio of 0.38. The firm has a market cap of $954.48 million, a price-to-earnings ratio of -107.16 and a beta of 0.04. The company's 50-day moving average is $13.96 and its 200-day moving average is $11.30.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.16. The business had revenue of $93.20 million for the quarter, compared to analyst estimates of $70.36 million. Pharming Group had a negative net margin of 2.19% and a negative return on equity of 3.31%. Pharming Group has set its FY 2025 guidance at EPS. Equities research analysts predict that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new stake 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 disclosure with the Securities & Exchange Commission. The firm purchased 2,979 shares of the company's stock, valued at approximately $32,000. Institutional investors own 0.03% of the company's stock.

About Pharming Group

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.

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