Pharming Group (NASDAQ:PHAR) Sees Large Decline in Short Interest

Pharming Group (NASDAQ:PHAR) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 1,500 shares, a drop of 44.4% from the March 15th total of 2,700 shares. Based on an average trading volume of 2,400 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research note on Thursday, March 14th.

Institutional Trading of Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. Orion Portfolio Solutions LLC purchased a new position in Pharming Group (NASDAQ:PHAR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,715 shares of the company’s stock, valued at approximately $134,000. 0.03% of the stock is currently owned by institutional investors.

Pharming Group Stock Up 4.8 %

NASDAQ:PHAR opened at $10.48 on Thursday. The firm has a market cap of $703.31 million, a P/E ratio of -74.85 and a beta of 0.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.33 and a current ratio of 4.06. Pharming Group has a fifty-two week low of $9.70 and a fifty-two week high of $16.71. The firm has a 50-day simple moving average of $11.27 and a two-hundred day simple moving average of $11.59.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The firm had revenue of $81.20 million for the quarter, compared to the consensus estimate of $71.83 million. Pharming Group had a negative net margin of 4.13% and a negative return on equity of 4.53%. Analysts predict that Pharming Group will post -0.02 earnings per share for the current fiscal year.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company's commercialized product is RUCONEST, a plasma-free rhC1INH protein replacement therapy for the treatment acute hereditary angioedema (HAE) attacks.