Short Interest in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Expands By 279.0%

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 72,693 shares, an increase of 279.0% from the July 30th total of 19,179 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 29,943 shares, the days-to-cover ratio is currently 2.4 days.

Pharming Group Price Performance

Pharming Group stock opened at $11.70 on Friday. The business’s 50-day simple moving average is $12.50 and its 200 day simple moving average is $14.19. The stock has a market cap of $828.13 million, a price-to-earnings ratio of 97.50 and a beta of -0.01. Pharming Group has a 12-month low of $9.62 and a 12-month high of $21.34. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, research analysts anticipate that Pharming Group will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PHAR shares. Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Zacks Research lowered shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Canaccord Genuity Group lifted their target price on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.67.

Institutional Investors Weigh In On Pharming Group

Several institutional investors have recently modified their holdings of PHAR. EverSource Wealth Advisors LLC bought a new stake in shares of Pharming Group during the second quarter worth approximately $32,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the fourth quarter valued at approximately $224,000. Millennium Management LLC bought a new position in Pharming Group in the fourth quarter valued at approximately $360,000. Finally, NewEdge Advisors LLC grew its holdings in Pharming Group by 11,310.3% during the 4th 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. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.