Pharming Group (NASDAQ:PHAR) Price Target Raised to $38.00

Pharming Group (NASDAQ:PHAR) had its price objective boosted by Canaccord Genuity Group from $37.00 to $38.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on PHAR. Zacks Research raised shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Weiss Ratings cut shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Stock Performance

Shares of PHAR opened at $10.68 on Monday. The stock has a market capitalization of $755.93 million, a PE ratio of 89.00 and a beta of -0.01. The business’s fifty day moving average price is $12.84 and its 200 day moving average price is $15.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.06. Pharming Group has a 12-month low of $9.62 and a 12-month high of $21.34.

Pharming Group (NASDAQ:PHAR) last released its 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%. The business had revenue of $90.20 million for the quarter, compared to the consensus estimate of $99.52 million. Equities research analysts forecast that Pharming Group will post 0.2 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the period. Millennium Management LLC bought a new position in Pharming Group in the 4th quarter worth approximately $360,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group in the 4th quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Pharming Group in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

About Pharming Group

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.