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

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Oppenheimer restated an “outperform” rating and set a $41.00 price target (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. Canaccord Genuity Group assumed coverage on shares of Pharming Group in a research report on Friday, April 10th. They set a “buy” rating and a $37.00 price target on the stock. Weiss Ratings downgraded shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pharming Group has an average rating of “Hold” and an average price target of $38.33.

Pharming Group Price Performance

The business’s fifty day moving average is $15.12 and its 200 day moving average is $16.34. The company has a current ratio of 2.63, a quick ratio of 2.06 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $890.94 million, a P/E ratio of 78.85 and a beta of -0.04.

Pharming Group (NASDAQ:PHAR) last released its quarterly 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). Pharming Group had a net margin of 3.30% and a return on equity of 4.64%. The firm had revenue of $72.45 million for the quarter, compared to analyst estimates of $92.06 million. As a group, analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

A number of large investors have recently made changes to their positions in PHAR. EverSource Wealth Advisors LLC acquired a new stake in shares of Pharming Group during the second quarter valued at approximately $32,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group during the fourth quarter valued at approximately $224,000. Millennium Management LLC acquired a new stake in shares of Pharming Group during the fourth quarter valued at approximately $360,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $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.

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.