Pharming Group (NASDAQ:PHAR) Shares Gap Up – What’s Next?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped up before the market opened on Wednesday . The stock had previously closed at $11.11, but opened at $11.51. Pharming Group shares last traded at $11.2590, with a volume of 2,159 shares trading hands.

Analysts Set New Price Targets

PHAR has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Zacks Research downgraded Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Finally, Wall Street Zen cut Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pharming Group currently has a consensus rating of “Hold” and a consensus price target of $38.67.

Pharming Group Price Performance

The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $12.36 and its 200 day moving average price is $14.06. The firm has a market cap of $811.14 million, a price-to-earnings ratio of 95.50 and a beta of 0.01.

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 analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. Equities research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.