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

Key Points

• Pharming Group shares opened lower, falling from a prior close of $12.23 to $11.81 before recovering slightly to $12.13.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and two rate it a Sell, resulting in an overall “Hold” rating and an average price target of $38.67.
• The company missed quarterly expectations, reporting $0.02 in earnings per share versus $0.06 expected and revenue of $90.20 million versus $99.52 million forecast.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $12.23, but opened at $11.81. Pharming Group shares last traded at $12.13, with a volume of 10,922 shares traded.

Analysts Set New Price Targets

PHAR has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Pharming Group from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Zacks Research downgraded Pharming Group from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Wall Street Zen cut Pharming Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a report on Friday. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.67.

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31. The firm has a market capitalization of $826.71 million, a price-to-earnings ratio of 97.33 and a beta of -0.01. The business's fifty day simple moving average is $12.70 and its 200 day simple moving average is $14.80.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $90.20 million for the quarter, compared to analyst estimates of $99.52 million. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. On average, research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

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

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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