Pharming Group (NASDAQ:PHAR) Shares Gap Down - What's Next?

Key Points

• Pharming Group shares fell: The stock opened at $12.69 versus a prior close of $13.40 and was last trading at $12.565, down 2.9%.
• Analyst sentiment remains positive: The stock has a “Moderate Buy” consensus rating and an average price target of $39.67, with three Buy and two Hold ratings.
• Quarterly earnings beat estimates: Pharming reported EPS of $0.30, above the $0.21 consensus; revenue of $117.6 million matched expectations.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report)'s stock price gapped down before the market opened on Friday. The stock had previously closed at $13.40, but opened at $12.69. Pharming Group shares last traded at $12.5650, with a volume of 1,735 shares changing hands.

Wall Street Analyst Weigh In

PHAR has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a report on Tuesday, September 22nd. Zacks Research upgraded shares of Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, October 23rd. Weiss Ratings upgraded shares of Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Pharming Group from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Pharming Group in a research note on Wednesday, October 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.67.

Pharming Group Trading Down 2.9%

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.23 and a quick ratio of 2.65. The business's 50 day simple moving average is $10.93 and its 200 day simple moving average is $13.53. The stock has a market cap of $890.41 million, a P/E ratio of 39.31 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.09. Pharming Group had a return on equity of 8.70% and a net margin of 6.23%. The company had revenue of $117.60 million during the quarter, compared to analysts' expectations of $117.60 million. On average, analysts expect that Pharming Group N.V. Sponsored ADR will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP acquired a new stake 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 13F filing with the Securities & Exchange Commission. The fund acquired 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 position. 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 hedge funds and other institutional investors.

About Pharming Group

Pharming Group N.V. is a biotechnology company headquartered in Leiden, the Netherlands, that develops and commercializes medicines for rare and underserved diseases. Founded in 1988, the company has built its business around treatments for disorders involving the immune system. Its marketed products include Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS).

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