Pharming Group (NASDAQ:PHAR) Shares Gap Down - Here's What Happened

Key Points

• Pharming Group shares opened lower, falling from a previous close of $10.52 to $10.17 and last trading at $10.15 on volume of 8,435 shares.
• Analyst sentiment was mixed: three analysts rated the stock a Buy and two rated it a Sell, producing an overall “Hold” consensus despite a consensus price target of $38.67.
• The company’s latest quarterly earnings missed expectations, reporting $0.02 in EPS versus the $0.06 consensus estimate; meanwhile, MAC Alpha Capital Management acquired 2.15 million shares, representing about 3.03% of Pharming Group.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped down before the market opened on Tuesday. The stock had previously closed at $10.52, but opened at $10.17. Pharming Group shares last traded at $10.15, with a volume of 8,435 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PHAR. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. 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 price target on shares of Pharming Group in a research note on Wednesday, September 23rd. Zacks Research cut shares of Pharming Group from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pharming Group in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Pharming Group has an average rating of "Hold" and a consensus target price of $38.67.

Pharming Group Price Performance

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 capitalization of $735.26 million, a price-to-earnings ratio of 86.57 and a beta of 0.01. The stock has a 50 day moving average price of $11.39 and a 200-day moving average price of $13.41.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted 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, analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

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

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming's principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.

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