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PHAR

Pharming Group ENXTAM:PHARM Stock Report

Last Price

€0.77

Market Cap

€502.9m

7D

4.2%

1Y

-24.3%

Updated

24 May, 2022

Data

Company Financials +
PHARM fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance1/6
Financial Health6/6
Dividends0/6

PHARM Stock Overview

Pharming Group N.V., a biopharmaceutical company, develops and commercialize protein replacement therapies and precision medicines for the treatment of rare diseases and unmet medical needs in the United States, Europe, and internationally.

Pharming Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pharming Group
Historical stock prices
Current Share Price€0.77
52 Week High€1.03
52 Week Low€0.66
Beta1.55
1 Month Change-4.98%
3 Month Change-0.39%
1 Year Change-24.31%
3 Year Change-0.72%
5 Year Change143.53%
Change since IPO-99.18%

Recent News & Updates

Shareholder Returns

PHARMNL BiotechsNL Market
7D4.2%0.2%-4.3%
1Y-24.3%-18.4%-19.1%

Return vs Industry: PHARM underperformed the Dutch Biotechs industry which returned -16.6% over the past year.

Return vs Market: PHARM underperformed the Dutch Market which returned -16.9% over the past year.

Price Volatility

Is PHARM's price volatile compared to industry and market?
PHARM volatility
PHARM Average Weekly Movement5.4%
Biotechs Industry Average Movement8.2%
Market Average Movement5.6%
10% most volatile stocks in NL Market8.5%
10% least volatile stocks in NL Market3.7%

Stable Share Price: PHARM is not significantly more volatile than the rest of Dutch stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: PHARM's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a277Simon de Vrieshttps://www.pharming.com

Pharming Group N.V., a biopharmaceutical company, develops and commercialize protein replacement therapies and precision medicines for the treatment of rare diseases and unmet medical needs in the United States, Europe, and internationally. The company’s lead product is Ruconest, a recombinant human C1 esterase inhibitor that is used for the treatment of acute hereditary angioedema. It also engages in the development of rhC1INH for the treatment of pre-eclampsia, acute kidney injury, and COVID-19; leniolisib, a phosphoinositide 3-kinase delta (PI3K delta) to treat patients with activated PI3K delta syndrome; and alpha-glucosidase therapy for the treatment of pompe and fabry diseases.

Pharming Group Fundamentals Summary

How do Pharming Group's earnings and revenue compare to its market cap?
PHARM fundamental statistics
Market CapUS$539.61m
Earnings (TTM)US$10.93m
Revenue (TTM)US$201.92m

49.4x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PHARM income statement (TTM)
RevenueUS$201.92m
Cost of RevenueUS$21.18m
Gross ProfitUS$180.75m
Other ExpensesUS$169.81m
EarningsUS$10.93m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 04, 2022

Earnings per share (EPS)0.017
Gross Margin89.51%
Net Profit Margin5.41%
Debt/Equity Ratio70.8%

How did PHARM perform over the long term?

See historical performance and comparison

Valuation

Is Pharming Group undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PHARM (€0.77) is trading below our estimate of fair value (€2)

Significantly Below Fair Value: PHARM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PHARM is poor value based on its Price-To-Earnings Ratio (49.4x) compared to the European Biotechs industry average (36.4x).

PE vs Market: PHARM is poor value based on its Price-To-Earnings Ratio (49.4x) compared to the Dutch market (15.2x).


Price to Earnings Growth Ratio

PEG Ratio: PHARM is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: PHARM's Price-To-Book Ratio (2.8x) is in line with the XE Biotechs industry average.


Future Growth

How is Pharming Group forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


34.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PHARM's forecast earnings growth (34.7% per year) is above the savings rate (0.09%).

Earnings vs Market: PHARM's earnings (34.7% per year) are forecast to grow faster than the Dutch market (2.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PHARM's revenue (11.6% per year) is forecast to grow faster than the Dutch market (7% per year).

High Growth Revenue: PHARM's revenue (11.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PHARM's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Pharming Group performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


50.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PHARM has a large one-off loss of $10.4M impacting its March 31 2022 financial results.

Growing Profit Margin: PHARM's current net profit margins (5.4%) are lower than last year (18.4%).


Past Earnings Growth Analysis

Earnings Trend: PHARM has become profitable over the past 5 years, growing earnings by 50.8% per year.

Accelerating Growth: PHARM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PHARM had negative earnings growth (-70.6%) over the past year, making it difficult to compare to the Biotechs industry average (-6.2%).


Return on Equity

High ROE: PHARM's Return on Equity (5.6%) is considered low.


Financial Health

How is Pharming Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PHARM's short term assets ($250.9M) exceed its short term liabilities ($45.2M).

Long Term Liabilities: PHARM's short term assets ($250.9M) exceed its long term liabilities ($153.6M).


Debt to Equity History and Analysis

Debt Level: PHARM has more cash than its total debt.

Reducing Debt: PHARM's debt to equity ratio has reduced from 226.9% to 70.8% over the past 5 years.

Debt Coverage: PHARM's debt is well covered by operating cash flow (22.8%).

Interest Coverage: PHARM's interest payments on its debt are well covered by EBIT (3.5x coverage).


Balance Sheet


Dividend

What is Pharming Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PHARM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PHARM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PHARM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PHARM's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PHARM has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Simon de Vries (62 yo)

13.5yrs

Tenure

US$2,460,000

Compensation

Dr. Sijmen De Vries, also known as Simon, M.D., M.B.A., has been the Chief Executive Officer of Pharming Group NV since November 3, 2008 and also serves as its Executive Director. He serves as President at...


CEO Compensation Analysis

Compensation vs Market: Simon's total compensation ($USD2.46M) is above average for companies of similar size in the Dutch market ($USD1.11M).

Compensation vs Earnings: Simon's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PHARM's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

Experienced Board: PHARM's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PHARM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pharming Group N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: Pharming Group N.V.
  • Ticker: PHARM
  • Exchange: ENXTAM
  • Founded: NaN
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: €502.914m
  • Shares outstanding: 651.44m
  • Website: https://www.pharming.com

Number of Employees


Location

  • Pharming Group N.V.
  • Darwinweg 24
  • Leiden
  • Zuid-Holland
  • 2333 CR
  • Netherlands

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/24 00:00
End of Day Share Price2022/05/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.