Pharming Group (NASDAQ:PHAR) Hits New 52-Week Low After Earnings Miss

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $9.82 and last traded at $9.7590, with a volume of 7964 shares. The stock had previously closed at $12.01.

The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 3.30% and a return on equity of 4.64%.

Analyst Ratings Changes

A number of brokerages have commented on PHAR. Wall Street Zen cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Canaccord Genuity Group initiated coverage on shares of Pharming Group in a report on Friday, April 10th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Zacks Research upgraded shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.33.

Hedge Funds Weigh In On Pharming Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHAR. EverSource Wealth Advisors LLC bought a new position in Pharming Group during the second quarter worth $32,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group during the 4th quarter valued at $224,000. Millennium Management LLC acquired a new stake in Pharming Group in the fourth quarter worth $360,000. Finally, NewEdge Advisors LLC raised its holdings 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 purchasing an additional 28,615 shares during the period. Institutional investors own 0.03% of the company’s stock.

Pharming Group Price Performance

The business has a 50-day moving average of $13.11 and a 200 day moving average of $15.29. The firm has a market capitalization of $694.99 million, a P/E ratio of 61.20 and a beta of -0.04. The company has a current ratio of 2.63, a quick ratio of 2.06 and a debt-to-equity ratio of 0.35.

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.