Pharming Group (NASDAQ:PHAR) Shares Gap Down After Analyst Downgrade

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped down prior to trading on Friday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $17.67, but opened at $17.06. Pharming Group shares last traded at $17.0210, with a volume of 10,567 shares.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pharming Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,147 shares of the company’s stock after buying an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.08% of Pharming Group worth $557,000 as of its most recent filing with the SEC. Institutional investors own 0.03% of the company’s stock.

Pharming Group Trading Down 3.0%

The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $16.32 and its 200 day moving average is $13.94. The company has a market cap of $1.17 billion and a price-to-earnings ratio of -1,712.29.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Pharming Group had a net margin of 0.30% and a return on equity of 0.46%. The business had revenue of $97.30 million during the quarter, compared to the consensus estimate of $98.22 million. Research analysts predict that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current year.

Pharming Group Company Profile

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.