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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $13.77, but opened at $13.39. Pharming Group shares last traded at $13.35, with a volume of 653 shares.

Wall Street Analyst Weigh In

PHAR has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on Pharming Group in a report on Friday, April 10th. They issued a “buy” rating and a $37.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, March 24th. Zacks Research raised Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings downgraded shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pharming Group has a consensus rating of “Hold” and a consensus price target of $38.33.

Pharming Group Stock Down 0.8%

The firm has a market cap of $938.54 million, a price-to-earnings ratio of 83.07 and a beta of -0.04. The stock’s 50 day moving average is $13.11 and its 200 day moving average is $15.56. The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The firm had revenue of $72.45 million during the quarter, compared to analyst estimates of $92.06 million. Pharming Group had a return on equity of 4.64% and a net margin of 3.30%. Analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in Pharming Group in the second quarter worth about $32,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group in the 4th quarter worth approximately $224,000. Millennium Management LLC bought a new stake in shares of Pharming Group in the 4th quarter worth approximately $360,000. Finally, NewEdge Advisors LLC lifted its stake in Pharming Group by 11,310.3% during the fourth 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. 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.