Pharming Group (NASDAQ:PHAR) Reaches New 12-Month Low – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price reached a new 52-week low 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.

Wall Street Analysts Forecast Growth

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

Pharming Group Price Performance

The company has a market cap of $673.10 million, a price-to-earnings ratio of 79.25 and a beta of -0.05. The company has a 50-day simple moving average of $10.95 and a 200-day simple moving average of $13.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP bought a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group accounts for approximately 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd biggest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.