Pharming Group (NASDAQ:PHAR) Hits New 52-Week Low - Time to Sell?

Key Points

• Pharming Group shares hit a new 52-week low, trading as low as $9.31 and closing near $9.27, about 1% lower on the day.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus Hold rating despite an average price target of $38.67.
• The company missed quarterly earnings expectations, reporting $0.02 per share versus the $0.06 consensus estimate. However, hedge fund MAC Alpha Capital Management acquired 2.15 million shares, taking a 3.03% stake.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) hit a new 52-week low during trading on Monday. The company traded as low as $9.31 and last traded at $9.2650, with a volume of 9,030 shares traded. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a report on Tuesday, September 22nd. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a report on Wednesday, September 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. Oppenheimer reiterated an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. Finally, Zacks Research downgraded Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Pharming Group currently has a consensus rating of "Hold" and an average target price of $38.67.

Pharming Group Trading Down 1.0%

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 stock has a market capitalization of $655.76 million, a P/E ratio of 76.92 and a beta of -0.05. The company has a 50-day moving average price of $10.86 and a 200 day moving average price of $12.82.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.04). 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 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group accounts for approximately 6.0% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 2nd biggest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group as of its most recent SEC filing. 0.03% of the stock is owned by institutional investors.

About Pharming Group

Pharming Group N.V. is a global biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and conditions with significant unmet medical needs, using biotechnology and protein-replacement approaches.

Pharming's commercial products include Ruconest (conestat alfa), a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral therapy for activated phosphoinositide 3-kinase delta syndrome, a rare primary immunodeficiency disorder.

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