Short Interest in Pharming Group (NASDAQ:PHAR) Grows By 107.1%

Pharming Group (NASDAQ:PHAR) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,800 shares, an increase of 107.1% from the February 28th total of 2,800 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 6,700 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by institutional investors.

Pharming Group Stock Performance

PHAR traded down $0.27 during midday trading on Friday, reaching $8.38. The company had a trading volume of 5,632 shares, compared to its average volume of 6,202. Pharming Group has a 1 year low of $6.65 and a 1 year high of $11.30. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The company has a market cap of $569.83 million, a P/E ratio of -32.22 and a beta of -0.10. The business has a 50-day moving average of $8.80 and a two-hundred day moving average of $8.67.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, March 13th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $92.70 million for the quarter, compared to the consensus estimate of $76.67 million. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. As a group, equities research analysts predict that Pharming Group will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PHAR. Jefferies Financial Group began coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price target on the stock. Oppenheimer raised their price objective on shares of Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday, March 20th.

About Pharming Group

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.