Pharming Group (NASDAQ:PHAR) Trading Up 5.6% – Here’s What Happened

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) were up 5.6% during trading on Friday . The company traded as high as $13.11 and last traded at $13.1650. Approximately 3,314 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 22,353 shares. The stock had previously closed at $12.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHAR shares. Oppenheimer reissued an “outperform” rating and issued a $41.00 target price (down from $42.00) on shares of Pharming Group in a research note on Friday, March 13th. Canaccord Genuity Group started coverage on shares of Pharming Group in a research note on Friday, April 10th. They issued a “buy” rating and a $37.00 target price on the stock. Zacks Research raised shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Weiss Ratings lowered shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Tuesday, March 24th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.33.

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.06 and a current ratio of 2.63. The business’s 50 day simple moving average is $15.12 and its 200-day simple moving average is $16.34. The stock has a market capitalization of $890.94 million, a price-to-earnings ratio of 78.85 and a beta of -0.04.

Pharming Group (NASDAQ:PHAR) last posted its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The firm had revenue of $72.45 million for the quarter, compared to analyst estimates of $92.06 million. Pharming Group had a net margin of 3.30% and a return on equity of 4.64%. Research analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in Pharming Group by 11,310.3% during 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 during the period. Millennium Management LLC acquired a new position in Pharming Group during the 4th quarter valued at about $360,000. SmartHarvest Portfolios LLC acquired a new position in Pharming Group during the 4th quarter valued at about $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Pharming Group during the 2nd quarter valued at about $32,000. 0.03% of the stock is owned by institutional investors and hedge funds.

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.