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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 19,179 shares, a growth of 93.0% from the July 15th total of 9,938 shares. Based on an average trading volume of 9,696 shares, the short-interest ratio is presently 2.0 days. Currently, 0.0% of the company’s shares are sold short.

Pharming Group Trading Up 0.6%

PHAR opened at $11.79 on Tuesday. The stock has a market capitalization of $834.50 million, a P/E ratio of 98.25 and a beta of -0.01. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. Pharming Group has a 12 month low of $9.62 and a 12 month high of $21.34. The firm’s fifty day simple moving average is $12.66 and its 200 day simple moving average is $14.57.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, research analysts anticipate that Pharming Group will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in Pharming Group in the 2nd quarter valued at approximately $32,000. SmartHarvest Portfolios LLC acquired a new position in Pharming Group during the 4th quarter worth approximately $224,000. Millennium Management LLC bought a new position in shares of Pharming Group during the 4th quarter worth approximately $360,000. Finally, NewEdge Advisors LLC grew its stake in shares of Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after acquiring an additional 28,615 shares in the last quarter. 0.03% of the stock is currently owned by 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.