Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume – What’s Next?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw strong trading volume on Wednesday . Approximately 54,371 shares traded hands during mid-day trading, an increase of 186% from the previous session’s volume of 19,016 shares.The stock last traded at $10.54 and had previously closed at $10.55.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. HC Wainwright restated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research note on Monday. Zacks Research cut Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.67.

Pharming Group Price Performance

The business’s 50 day moving average is $11.92 and its 200-day moving average is $13.75. The firm has a market capitalization of $748.50 million, a P/E ratio of 88.12 and a beta of 0.01. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34.

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 return on equity of 3.40% and a net margin of 2.51%. As a group, sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current fiscal year.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming’s principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.