Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume – Time to Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw unusually-high trading volume on Tuesday . Approximately 16,852 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 18,556 shares.The stock last traded at $11.4550 and had previously closed at $11.35.

Analyst Upgrades and Downgrades

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

Pharming Group Price Performance

The firm has a market cap of $837.33 million, a P/E ratio of 98.58 and a beta of -0.01. The business’s fifty day simple moving average is $12.70 and its 200-day simple moving average is $14.75. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC boosted 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 period. Millennium Management LLC purchased a new position in Pharming Group during the fourth quarter valued at approximately $360,000. SmartHarvest Portfolios LLC bought a new stake in Pharming Group during the 4th quarter worth approximately $224,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Pharming Group during the 2nd quarter worth approximately $32,000. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.