HC Wainwright Reaffirms “Buy” Rating for Pharming Group (NASDAQ:PHAR)

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $37.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 130.01% from the company’s previous close.

Several other analysts also recently issued reports on the company. Zacks Research downgraded Pharming Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Weiss Ratings lowered Pharming Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Oppenheimer reissued 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. Finally, Wall Street Zen upgraded shares of Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

Pharming Group Trading Up 0.5%

Shares of Pharming Group stock traded up $0.08 during trading hours on Tuesday, reaching $16.09. The stock had a trading volume of 11,271 shares, compared to its average volume of 29,196. The company has a current ratio of 2.59, a quick ratio of 2.03 and a debt-to-equity ratio of 0.33. Pharming Group has a 1 year low of $7.50 and a 1 year high of $21.34. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 1,608.40 and a beta of 0.04. The firm has a 50 day simple moving average of $16.94 and a two-hundred day simple moving average of $16.13.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). Pharming Group had a net margin of 0.71% and a return on equity of 1.08%. The business had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $111.76 million. As a group, equities research analysts anticipate that Pharming Group will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A number of large investors have recently bought and sold shares of PHAR. EverSource Wealth Advisors LLC acquired a new stake in shares of Pharming Group in the 2nd quarter worth approximately $32,000. SmartHarvest Portfolios LLC bought a new stake in shares of Pharming Group in the 4th quarter worth approximately $224,000. Millennium Management LLC acquired a new stake in Pharming Group during the fourth quarter valued at approximately $360,000. Finally, NewEdge Advisors LLC increased its holdings 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 buying an additional 28,615 shares in the last quarter. Institutional investors own 0.03% of the company’s stock.

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.