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

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped up before the market opened on Wednesday . The stock had previously closed at $11.11, but opened at $11.51. Pharming Group shares last traded at $11.2590, with a volume of 2,159 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on PHAR shares. Zacks Research downgraded shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research 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. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Wall Street Zen lowered Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Canaccord Genuity Group raised their target price on Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.67.

Pharming Group Price Performance

The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $12.44 and its two-hundred day moving average price is $14.11. The firm has a market capitalization of $799.46 million, a price-to-earnings ratio of 94.12 and a beta of 0.01.

Pharming Group (NASDAQ:PHAR) last released 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%. Analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the last quarter. Millennium Management LLC bought a new position in Pharming Group during the fourth quarter valued at approximately $360,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group in the fourth quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Pharming Group in the second quarter valued at approximately $32,000. Institutional investors 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.