Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $17.67, but opened at $17.06. Pharming Group shares last traded at $17.0210, with a volume of 10,567 shares changing hands.

Analyst Upgrades and Downgrades

PHAR has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Zacks Research raised shares of Pharming Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $38.00.

Pharming Group Price Performance

The stock has a fifty day moving average of $16.25 and a 200-day moving average of $13.87. The firm has a market capitalization of $1.17 billion and a P/E ratio of -1,706.79. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Pharming Group had a net margin of 0.30% and a return on equity of 0.46%. The firm had revenue of $97.30 million for the quarter, compared to analyst estimates of $98.22 million. Equities analysts predict that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 52,147 shares of the company’s stock after buying an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.08% of Pharming Group worth $557,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.