Pharming Group (NASDAQ:PHAR) Reaches New 52-Week Low - Should You Sell?

Key Points

• Pharming Group shares hit a new 52-week low, falling to $9.38 before last trading at $9.51. The stock remains below its 50-day and 200-day moving averages of $10.95 and $13.01, respectively.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and two rate it a Sell, producing an average “Hold” rating and a $38.67 target price. Zacks downgraded the shares to “strong sell,” while HC Wainwright and Oppenheimer maintained bullish views.
• The company missed quarterly earnings expectations, reporting $0.02 per share versus the $0.06 consensus estimate. Separately, MAC Alpha Capital Management acquired 2.15 million shares, giving it roughly a 3.03% stake in Pharming.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) shares hit a new 52-week low on Tuesday. The company traded as low as $9.38 and last traded at $9.51, with a volume of 8,724 shares trading hands. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

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

Pharming Group Stock Performance

The firm's 50-day moving average is $10.95 and its 200 day moving average is $13.01. The stock has a market cap of $673.10 million, a PE ratio of 79.25 and a beta of -0.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued 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 return on equity of 3.40% and a net margin of 2.51%. As a group, research analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP purchased a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group comprises approximately 6.0% of MAC Alpha Capital Management LP's holdings, making the stock its 2nd biggest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group at the end of the most recent quarter. Institutional investors own 0.03% of the company's stock.

Pharming Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.