Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $20.47, but opened at $17.01. Pharming Group shares last traded at $17.30, with a volume of 72,753 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PHAR. Wall Street Zen raised Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. Zacks Research downgraded Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Pharming Group Stock Down 2.2%

The firm’s fifty day simple moving average is $17.81 and its 200 day simple moving average is $15.23. The company has a current ratio of 3.16, a quick ratio of 2.39 and a debt-to-equity ratio of 0.35.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, November 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Pharming Group had a net margin of 0.30% and a return on equity of 0.46%. The firm had revenue of $97.30 million during the quarter, compared to the consensus estimate of $98.22 million. As a group, research analysts expect that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.