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

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped up before the market opened on Wednesday . The stock had previously closed at $11.46, but opened at $11.86. Pharming Group shares last traded at $11.84, with a volume of 3,597 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group upped their target price on shares of Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Zacks Research cut Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Finally, Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

Pharming Group Trading Down 1.4%

The stock has a market cap of $833.76 million, a price-to-earnings ratio of 98.17 and a beta of -0.01. The business has a 50-day simple moving average of $12.52 and a two-hundred day simple moving average of $14.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new stake in Pharming Group during the 2nd quarter worth about $32,000. SmartHarvest Portfolios LLC bought a new position in shares of Pharming Group in the 4th quarter valued at about $224,000. Millennium Management LLC bought a new position in shares of Pharming Group in the 4th quarter valued at about $360,000. Finally, NewEdge Advisors LLC increased its position in shares of Pharming Group by 11,310.3% in 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 last quarter. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.