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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 9,071 shares, a drop of 54.0% from the January 29th total of 19,720 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 43,146 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 43,146 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Pharming Group Trading Up 0.5%

PHAR stock traded up $0.09 during trading on Friday, hitting $16.46. The company had a trading volume of 8,146 shares, compared to its average volume of 32,050. Pharming Group has a 52-week low of $7.50 and a 52-week high of $21.34. The company has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $15.79. The firm has a market capitalization of $1.15 billion, a P/E ratio of -1,644.36 and a beta of -0.01. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35.

Analysts Set New Price Targets

PHAR has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a report on Monday, December 22nd. Zacks Research downgraded shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen upgraded shares of Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Institutional Trading of Pharming Group

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new position in Pharming Group during the 2nd quarter worth $32,000. SmartHarvest Portfolios LLC purchased a new position in shares of Pharming Group during the fourth quarter valued at $224,000. Millennium Management LLC bought a new stake in shares of Pharming Group in the fourth quarter valued at about $360,000. Finally, NewEdge Advisors LLC lifted its stake in Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after acquiring an additional 28,615 shares during the period. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.