Short Interest in Pharming Group (NASDAQ:PHAR) Declines By 47.2%

Pharming Group (NASDAQ:PHAR - Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,800 shares, a drop of 47.2% from the February 13th total of 5,300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 7,100 shares, the days-to-cover ratio is presently 0.4 days.

Pharming Group Stock Performance

Shares of NASDAQ:PHAR traded down $0.06 during mid-day trading on Monday, reaching $8.89. 11,588 shares of the company traded hands, compared to its average volume of 7,042. The company's 50 day moving average price is $8.99 and its 200-day moving average price is $8.59. The firm has a market cap of $604.80 million, a PE ratio of -34.19 and a beta of -0.10. Pharming Group has a 52 week low of $6.65 and a 52 week high of $11.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $92.70 million for the quarter, compared to the consensus estimate of $76.67 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. On average, equities analysts expect that Pharming Group will post -0.2 EPS for the current fiscal year.

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Analyst Ratings Changes

Several research firms have recently weighed in on PHAR. HC Wainwright reissued a "buy" rating and set a $37.00 price target on shares of Pharming Group in a report on Friday. Jefferies Financial Group initiated coverage on shares of Pharming Group in a research report on Monday, December 9th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, Oppenheimer boosted their price objective on shares of Pharming Group from $30.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in shares of Pharming Group (NASDAQ:PHAR - Free Report) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,997 shares of the company's stock after buying an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. Institutional investors own 0.03% of the company's stock.

About Pharming Group

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 offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.