Pharming Group (NASDAQ:PHAR) Sets New 52-Week Low – What’s Next?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares reached a new 52-week low during trading on Wednesday. The stock traded as low as $9.59 and last traded at $9.65, with a volume of 3833 shares. The stock had previously closed at $9.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Tuesday, September 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a research note on Wednesday, September 23rd. Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Price Performance

The business’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $13.18. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. The stock has a market cap of $683.01 million, a P/E ratio of 80.42 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP acquired a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group accounts for approximately 6.0% of MAC Alpha Capital Management LP’s holdings, making the stock its 2nd biggest holding. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.03% of the company’s stock.

About Pharming Group

Pharming Group N.V. is a global biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and conditions with significant unmet medical needs, using biotechnology and protein-replacement approaches.

Pharming’s commercial products include Ruconest (conestat alfa), a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, and Joenja (leniolisib), an oral therapy for activated phosphoinositide 3-kinase delta syndrome, a rare primary immunodeficiency disorder.