Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Sees Large Growth in Short Interest

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 72,693 shares, an increase of 279.0% from the July 30th total of 19,179 shares. Based on an average daily trading volume, of 29,943 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PHAR shares. Zacks Research lowered shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Wall Street Zen cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.67.

Pharming Group Trading Up 1.5%

Shares of PHAR stock opened at $11.95 on Thursday. The business has a 50-day moving average price of $12.53 and a two-hundred day moving average price of $14.24. Pharming Group has a 12-month low of $9.62 and a 12-month high of $21.34. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34. The firm has a market cap of $845.82 million, a P/E ratio of 99.58 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data 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%. Equities analysts anticipate that Pharming Group will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

Several institutional investors and hedge funds have recently made changes to their positions in PHAR. EverSource Wealth Advisors LLC purchased a new position in Pharming Group in the 2nd quarter worth $32,000. SmartHarvest Portfolios LLC purchased a new position in shares of Pharming Group in the fourth quarter worth about $224,000. Millennium Management LLC purchased a new position in shares of Pharming Group in the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Pharming Group by 11,310.3% in the 4th 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 during the last quarter. Institutional investors own 0.03% of the company’s stock.

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.