Pharming Group (NASDAQ:PHAR) Shares Gap Down Following Weak Earnings

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $10.75, but opened at $10.05. Pharming Group shares last traded at $10.13, with a volume of 8,250 shares traded.

The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). The firm had revenue of $90.20 million for the quarter, compared to analyst estimates of $99.52 million. Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PHAR shares. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday. Canaccord Genuity Group began coverage on shares of Pharming Group in a research report on Friday, April 10th. They issued a “buy” rating and a $37.00 price objective for the company. Zacks Research raised shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.33.

Institutional Investors Weigh In On Pharming Group

A number of large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group during the 2nd quarter worth $32,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group in the 4th quarter valued at about $224,000. Millennium Management LLC purchased a new position in Pharming Group in the 4th quarter valued at about $360,000. Finally, NewEdge Advisors LLC grew its stake in shares of 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 acquiring an additional 28,615 shares in the last quarter. 0.03% of the stock is owned by institutional investors and hedge funds.

Pharming Group Stock Down 8.4%

The company has a market capitalization of $697.18 million, a price-to-earnings ratio of 61.56 and a beta of -0.04. The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $13.07 and a two-hundred day moving average price of $15.23.

Pharming Group Company Profile

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.