Pharming Group (NASDAQ:PHAR) Reaches New 12-Month Low - Here's Why

Key Points

• Pharming Group shares hit a new 52-week low, falling to $9.59 before last trading at $9.65, well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus “Hold” rating and a $38.67 average price target.
• The company missed quarterly earnings expectations, reporting $0.02 in EPS versus the $0.06 consensus estimate, while MAC Alpha Capital Management disclosed a 3.03% stake worth approximately $29.8 million.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) shares reached a new 52-week low on Wednesday. The stock traded as low as $9.59 and last traded at $9.65, with a volume of 3833 shares traded. The stock had previously closed at $9.68.

Analyst Upgrades and Downgrades

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

Pharming Group Stock Performance

The company has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $13.18. 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 stock has a market cap of $683.01 million, a P/E ratio of 80.42 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS 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%. On average, equities analysts expect that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm 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 filing with the SEC. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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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