Pharming Group (NASDAQ:PHAR) Shares Gap Down - Should You Sell?

Key Points

• Pharming Group shares gapped down on Monday, opening at $12.50 after closing at $13.23, and last traded at $11.78 with a trading volume of 14,969 shares.
• The company reported a quarterly earnings of $0.06 per share, exceeding the consensus estimate of ($0.10), while its revenue for the quarter was $93.20 million, significantly higher than the expected $70.36 million.
• Institutional investors, including Silverberg Bernstein Capital Management LLC, have increased their stake in Pharming Group, boosting holdings by 8.6% in the second quarter.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $13.23, but opened at $12.50. Pharming Group shares last traded at $11.78, with a volume of 14,969 shares trading hands.

Pharming Group Stock Performance

The company has a quick ratio of 2.07, a current ratio of 2.79 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $10.88 and a two-hundred day simple moving average of $9.63. The stock has a market capitalization of $779.64 million, a P/E ratio of -87.54 and a beta of 0.02.

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 for the quarter, beating analysts' consensus estimates of ($0.10) by $0.16. The firm had revenue of $93.20 million during the quarter, compared to the consensus estimate of $70.36 million. Pharming Group had a negative return on equity of 3.31% and a negative net margin of 2.19%. On average, equities analysts forecast that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,979 shares of the company's stock, valued at approximately $32,000. Institutional investors and hedge funds 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.