Pharming Group (NASDAQ:PHAR) Shares Gap Up – Should You Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $9.65, but opened at $10.57. Pharming Group shares last traded at $10.69, with a volume of 6,499 shares traded.

Analyst Upgrades and Downgrades

PHAR has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research report on Tuesday, September 22nd. Canaccord Genuity Group set a $38.00 price objective on shares of Pharming Group in a report on Wednesday, September 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Oppenheimer reiterated an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Finally, Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Pharming Group currently has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Stock Performance

The firm has a market capitalization of $748.90 million, a PE ratio of 88.58 and a beta of -0.05. 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 company has a 50-day moving average of $10.72 and a 200 day moving average of $12.67.

Pharming Group (NASDAQ:PHAR) last released its quarterly 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%. Equities research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group makes up about 6.0% of MAC Alpha Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.03% of the company’s stock.

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and operates internationally, serving patients and healthcare providers in North America, Europe and other selected markets.

Pharming’s principal product is Ruconest, a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause potentially serious swelling. The company also markets Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS), a rare primary immunodeficiency.