Pharming Group (NASDAQ:PHAR) Reaches New 1-Year Low – What’s Next?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price hit a new 52-week low on Monday. The stock traded as low as $9.31 and last traded at $9.2650, with a volume of 9,030 shares traded. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

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

Pharming Group Stock Performance

The firm’s 50-day moving average is $10.86 and its two-hundred day moving average is $12.82. The stock has a market cap of $655.76 million, a price-to-earnings ratio of 76.92 and a beta of -0.05. 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 (NASDAQ:PHAR) last released its earnings results on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, sell-side analysts expect that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP purchased a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group accounts for about 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group as of its most recent filing with the Securities and Exchange Commission. 0.03% of the stock is owned by institutional investors.

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.