Pharming Group (NASDAQ:PHAR) Shares Up 6.4% – Here’s What Happened

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) rose 6.4% during mid-day trading on Tuesday . The company traded as high as $16.32 and last traded at $16.4140. Approximately 27,466 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 34,483 shares. The stock had previously closed at $15.42.

Wall Street Analyst Weigh In

Several analysts have weighed in on PHAR shares. Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pharming Group in a report on Monday, December 22nd. Finally, Zacks Research downgraded shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Pharming Group Stock Performance

The firm has a fifty day moving average of $17.59 and a 200 day moving average of $15.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.16 and a quick ratio of 2.39. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -1,645.35 and a beta of -0.01.

Institutional Trading of Pharming Group

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group during the second quarter valued at $32,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group during the 4th quarter valued at about $224,000. Millennium Management LLC purchased a new position in shares of Pharming Group in the 4th quarter valued at about $360,000. Finally, NewEdge Advisors LLC increased its stake in shares of Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after purchasing an additional 28,615 shares in the last quarter. 0.03% of the stock is owned by hedge funds and other institutional investors.

About Pharming Group

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.