Pharming Group (NASDAQ:PHAR) Reaches New 52-Week Low – Time to Sell?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price reached a new 52-week low during trading on Tuesday. The company traded as low as $9.38 and last traded at $9.51, with a volume of 8,724 shares traded. The stock had previously closed at $9.61.

Analysts Set New Price Targets

Several brokerages recently weighed in on PHAR. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a report on Wednesday, September 23rd. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Tuesday, September 22nd. Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.67.

Pharming Group Trading Up 2.1%

The stock has a market cap of $682.32 million, a P/E ratio of 80.33 and a beta of -0.05. The firm’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $12.92. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (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 research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises approximately 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd largest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group at the end of the most recent quarter. Institutional investors own 0.03% of the company’s stock.

Pharming Group Company Profile

Pharming Group N.V. is a global biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and conditions with significant unmet medical needs, using biotechnology and protein-replacement approaches.

Pharming’s commercial products include Ruconest (conestat alfa), a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral therapy for activated phosphoinositide 3-kinase delta syndrome, a rare primary immunodeficiency disorder.