Pharming Group (NASDAQ:PHAR) Shares Gap Down - Time to Sell?

Key Points

• Pharming Group shares fell sharply: The stock opened at $10.91 after closing at $11.50 and last traded near $10.87, below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Three analysts rate the stock a Buy and two rate it a Sell, resulting in a consensus “Hold” rating despite a consensus price target of $38.67.
• Recent earnings fell short of expectations: Pharming reported quarterly EPS of $0.02 versus the $0.06 consensus estimate, while analysts expect full-year EPS of approximately $0.25.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $11.50, but opened at $10.91. Pharming Group shares last traded at $10.87, with a volume of 3,180 shares.

Wall Street Analysts Forecast Growth

PHAR has been the topic of a number of research analyst reports. Oppenheimer reissued an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Canaccord Genuity Group lifted their target price on shares of Pharming Group from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. Finally, Zacks Research downgraded shares of Pharming Group from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Pharming Group presently has an average rating of "Hold" and a consensus target price of $38.67.

Pharming Group Stock Performance

The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34. The firm has a market cap of $765.84 million, a P/E ratio of 90.17 and a beta of 0.01. The business has a fifty day simple moving average of $12.18 and a 200-day simple moving average of $13.92.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its 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%. On average, sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current fiscal year.

Institutional Trading of Pharming Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new stake in Pharming Group in the second quarter worth $32,000. SmartHarvest Portfolios LLC purchased a new position in shares of Pharming Group in the 4th quarter worth about $224,000. Millennium Management LLC bought a new position in Pharming Group in the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC grew its position in Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock valued at $510,000 after purchasing an additional 28,615 shares during the last quarter. Hedge funds and other institutional investors own 0.03% of the company's stock.

About Pharming Group

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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