Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Sees Large Decline in Short Interest

Key Points

• Short interest fell by 15.5% in March to 12,882 shares, leaving a short-interest ratio of 0.5 days and effectively 0.0% of shares shorted.
• Several institutions initiated or increased positions (notably NewEdge Advisors boosted its stake by 11,310% to 28,868 shares), yet institutional ownership remains tiny at about 0.03% of the stock.
• Analysts are mixed with a consensus rating of Hold and an average price target of $38.33, while the company recently missed quarterly estimates (EPS $0.07 vs. $0.15 expected; revenue $106.5M vs. $111.8M expected).

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 12,882 shares, a decrease of 15.5% from the March 15th total of 15,251 shares. Based on an average daily trading volume, of 26,451 shares, the short-interest ratio is currently 0.5 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the second quarter valued at approximately $32,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Pharming Group during the fourth quarter valued at approximately $224,000. Millennium Management LLC purchased a new stake in shares of Pharming Group during the fourth quarter valued at approximately $360,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Pharming Group by 11,310.3% during the fourth 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 during the period. 0.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PHAR has been the topic of several analyst reports. Weiss Ratings cut Pharming Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. Canaccord Genuity Group assumed coverage on Pharming Group in a research report on Friday, April 10th. They set a "buy" rating and a $37.00 price target on the stock. Zacks Research upgraded shares of Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Oppenheimer restated an "outperform" rating and issued a $41.00 price objective (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Pharming Group to a "strong-buy" rating in a research report on Saturday, December 27th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Pharming Group presently has a consensus rating of "Hold" and an average price target of $38.33.

Pharming Group Price Performance

NASDAQ PHAR traded up $0.01 on Friday, reaching $17.34. 7,022 shares of the company's stock traded hands, compared to its average volume of 19,592. Pharming Group has a 12 month low of $8.05 and a 12 month high of $21.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.59 and a quick ratio of 2.03. The stock has a 50-day simple moving average of $16.24 and a 200 day simple moving average of $16.41. The stock has a market cap of $1.22 billion, a PE ratio of 1,734.00 and a beta of 0.05.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.08). Pharming Group had a net margin of 0.71% and a return on equity of 1.08%. The business had revenue of $106.50 million for the quarter, compared to the consensus estimate of $111.76 million. As a group, research analysts predict that Pharming Group will post -0.2 earnings per share for the current year.

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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