Pharming Group (NASDAQ:PHAR) Stock Price Up 11% – Time to Buy?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shot up 11% during mid-day trading on Thursday . The company traded as high as $17.67 and last traded at $17.5450. 43,541 shares traded hands during trading, an increase of 373% from the average session volume of 9,212 shares. The stock had previously closed at $15.81.

Analyst Upgrades and Downgrades

PHAR has been the subject of a number of recent analyst reports. Zacks Research raised Pharming Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pharming Group in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Pharming Group has an average rating of “Buy” and a consensus target price of $30.00.

Pharming Group Trading Up 9.7%

The company has a 50 day simple moving average of $15.08 and a 200 day simple moving average of $12.98. The company has a market capitalization of $1.19 billion and a PE ratio of -1,733.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.39 and a current ratio of 3.16.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $97.30 million for the quarter, compared to analyst estimates of $98.22 million. Pharming Group had a return on equity of 0.46% and a net margin of 0.30%. Analysts anticipate that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is owned by institutional investors.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.