Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Short Interest Up 93.0% in July

Key Points

• Short interest nearly doubled: Pharming Group’s short interest rose 93% to 19,179 shares as of July 31, equivalent to about two days of average trading volume.
• Analyst sentiment is mixed: Three analysts rate PHAR a Buy and two rate it a Sell, resulting in an average “Hold” rating and a consensus price target of $38.67.
• Shares and earnings weakened: The stock traded at $11.72, well below its 52-week high of $21.34, while quarterly earnings of $0.02 per share missed the $0.06 consensus estimate.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 19,179 shares, a growth of 93.0% from the July 15th total of 9,938 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 9,696 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of research firms recently commented on PHAR. Wall Street Zen downgraded shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Pharming Group from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Canaccord Genuity Group boosted their price target on Pharming Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pharming Group in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Pharming Group presently has an average rating of "Hold" and an average price target of $38.67.

Pharming Group Price Performance

Shares of NASDAQ:PHAR traded down $0.63 on Friday, hitting $11.72. The company had a trading volume of 20,713 shares, compared to its average volume of 20,155. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. The company has a market cap of $829.54 million, a PE ratio of 97.67 and a beta of -0.01. Pharming Group has a 52-week low of $9.62 and a 52-week high of $21.34. The business has a 50 day moving average of $12.68 and a 200 day moving average of $14.67.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its earnings results 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). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, equities analysts anticipate that Pharming Group will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Pharming Group during the second quarter worth $32,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group in the 4th quarter worth about $224,000. Millennium Management LLC acquired a new stake in Pharming Group in the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC grew its holdings in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock valued at $510,000 after buying an additional 28,615 shares during the period. 0.03% of the stock is owned by hedge funds and other institutional investors.

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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