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

Key Points

• Short interest fell 28.7% to 9,179 shares as of April 15, leaving a days-to-cover ratio of about 0.6 days and effectively ~0.0% of shares reported as short.
• Institutional and hedge fund ownership remains negligible at just 0.03% despite several firms (including Millennium and NewEdge) establishing or expanding positions in recent quarters.
• Analysts are mixed with an average rating of "Hold" and an average price target of $38.33, while the stock trades around $16.92 after a quarterly earnings miss (EPS $0.07 vs. $0.15) and a revenue shortfall.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 9,179 shares, a drop of 28.7% from the March 31st total of 12,882 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 14,164 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Pharming Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in Pharming Group during the second quarter worth about $32,000. SmartHarvest Portfolios LLC acquired a new position in Pharming Group during the fourth quarter worth about $224,000. Millennium Management LLC acquired a new position in Pharming Group during the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC boosted its position in Pharming Group by 11,310.3% during 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. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on PHAR shares. 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 reiterated an "outperform" rating and issued a $41.00 target price (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $37.00 target price on shares of Pharming Group in a research report on Tuesday, March 24th. Canaccord Genuity Group initiated coverage on shares of Pharming Group in a research report on Friday, April 10th. They issued a "buy" rating and a $37.00 target price on the stock. Finally, Weiss Ratings lowered shares of Pharming Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 13th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $38.33.

Pharming Group Stock Up 1.4%

Shares of NASDAQ PHAR opened at $16.92 on Tuesday. The company's 50-day simple moving average is $16.39 and its 200-day simple moving average is $16.51. Pharming Group has a 52-week low of $8.39 and a 52-week high of $21.34. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 1,692.00 and a beta of 0.05. The company has a quick ratio of 2.03, a current ratio of 2.59 and a debt-to-equity ratio of 0.33.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). Pharming Group had a net margin of 0.71% and a return on equity of 1.08%. The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $111.76 million. Equities analysts predict that Pharming Group will post 0.38 EPS for the current fiscal 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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