Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Sees Significant Increase in Short Interest

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 19,179 shares, an increase of 93.0% from the July 15th total of 9,938 shares. Based on an average daily trading volume, of 9,696 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PHAR. Oppenheimer reiterated an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Canaccord Genuity Group lifted their price objective on Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Institutional Trading of Pharming Group

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after buying an additional 28,615 shares during the last quarter. Millennium Management LLC acquired a new stake in Pharming Group in the 4th quarter valued at about $360,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group in the 4th quarter valued at about $224,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Pharming Group in the second quarter worth about $32,000. Institutional investors own 0.03% of the company’s stock.

Pharming Group Price Performance

Shares of NASDAQ:PHAR traded up $0.39 during trading on Monday, reaching $12.11. The stock had a trading volume of 15,897 shares, compared to its average volume of 19,245. The stock has a market capitalization of $857.15 million, a PE ratio of 100.92 and a beta of -0.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31. Pharming Group has a 52 week low of $9.62 and a 52 week high of $21.34. The business’s 50-day moving average price is $12.68 and its 200 day moving average price is $14.63.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.02 EPS 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, equities analysts predict that Pharming Group will post 0.25 earnings per share for the current year.

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.