Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.71, but opened at $17.18. Pharming Group shares last traded at $17.02, with a volume of 3,499 shares changing hands.

Analysts Set New Price Targets

PHAR has been the topic of several research analyst reports. Zacks Research upgraded shares of Pharming Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Pharming Group in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $38.00.

Pharming Group Stock Performance

The company has a market cap of $1.25 billion and a P/E ratio of -1,826.17. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $15.80 and a two-hundred day simple moving average of $13.64.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $98.22 million. On average, sell-side analysts anticipate that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,147 shares of the company’s stock after acquiring an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.08% of Pharming Group worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.