Pharming Group’s (PHAR) Buy Rating Reiterated at HC Wainwright

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Tuesday, September 22nd, Benzinga reports. They currently have a $37.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 269.63% from the company’s current price.

Several other equities analysts have also recently commented on PHAR. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Canaccord Genuity Group lifted their price objective on Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Pharming Group currently has an average rating of “Hold” and a consensus target price of $38.67.

Pharming Group Stock Down 4.8%

Shares of PHAR traded down $0.51 during trading hours on Tuesday, reaching $10.01. The company’s stock had a trading volume of 26,266 shares, compared to its average volume of 21,100. The company has a 50 day moving average of $11.39 and a two-hundred day moving average of $13.41. 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 firm has a market cap of $708.51 million, a price-to-earnings ratio of 83.42 and a beta of 0.01. Pharming Group has a 1-year low of $9.62 and a 1-year high of $21.34.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, research analysts predict that Pharming Group will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP acquired a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group makes up approximately 6.0% of MAC Alpha Capital Management LP’s investment portfolio, making the stock its 2nd largest position. MAC Alpha Capital Management LP owned approximately 3.03% of Pharming Group at the end of the most recent reporting period. 0.03% of the stock is currently owned by institutional investors and hedge funds.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming’s principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.