Pharming Group (NASDAQ:PHAR) Hits New 1-Year High – Here’s Why

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $18.82 and last traded at $18.7150, with a volume of 8535 shares changing hands. The stock had previously closed at $17.89.

Wall Street Analyst Weigh In

PHAR has been the topic of several research analyst reports. Zacks Research lowered Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Wall Street Zen raised shares of Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Pharming Group currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Pharming Group Price Performance

The business has a 50-day moving average of $16.62 and a two-hundred day moving average of $14.09. The company has a current ratio of 3.16, a quick ratio of 2.39 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.28 billion and a P/E ratio of -1,871.13.

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

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 52,147 shares of the company’s stock after acquiring an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.08% of Pharming Group worth $557,000 as of its most recent SEC filing. Hedge funds and other 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.