Pharming Group (NASDAQ:PHAR) Short Interest Up 350.0% in August

Pharming Group (NASDAQ:PHAR) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 900 shares, a growth of 350.0% from the August 15th total of 200 shares. Based on an average daily trading volume, of 1,300 shares, the days-to-cover ratio is presently 0.7 days.

Shares of NASDAQ PHAR opened at $10.20 on Wednesday. Pharming Group has a fifty-two week low of $9.70 and a fifty-two week high of $21.99. The firm’s 50-day simple moving average is $10.84 and its 200 day simple moving average is $11.99. The company has a quick ratio of 4.74, a current ratio of 5.25 and a debt-to-equity ratio of 0.73. The stock has a market cap of $659.04 million and a P/E ratio of 17.59.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $49.60 million for the quarter, compared to the consensus estimate of $64.13 million. On average, sell-side analysts anticipate that Pharming Group will post 0.02 earnings per share for the current fiscal year.

Separately, Zacks Investment Research cut shares of Pharming Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 19th.

Several hedge funds and other institutional investors have recently modified their holdings of PHAR. UBS Group AG raised its position in Pharming Group by 173.8% in the first quarter. UBS Group AG now owns 2,508 shares of the company’s stock worth $32,000 after acquiring an additional 1,592 shares in the last quarter. Morgan Stanley raised its position in Pharming Group by 5,208.3% in the second quarter. Morgan Stanley now owns 2,548 shares of the company’s stock worth $29,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Cowen Prime Advisors LLC bought a new stake in Pharming Group in the second quarter worth about $71,000. Institutional investors and hedge funds own 0.31% of the company’s stock.

Pharming Group Company Profile

Pharming Group N.V., a specialty pharmaceutical company, develops products for the treatment of rare diseases and unmet medical needs in the United States, Europe, and internationally. The company's lead product is Ruconest, a recombinant human C1 esterase inhibitor that is used for the treatment of acute hereditary angioedema.

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