Pharming Group (NASDAQ:PHAR) Trading Up 4.4% – Here’s Why

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price was up 4.4% on Wednesday . The stock traded as high as $17.32 and last traded at $17.55. Approximately 5,296 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 10,425 shares. The stock had previously closed at $16.81.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Zacks Research raised Pharming Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Pharming Group currently has an average rating of “Buy” and a consensus target price of $38.00.

Pharming Group Price Performance

The firm has a market capitalization of $1.21 billion and a P/E ratio of -1,765.23. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $16.25 and its 200-day moving average is $13.87.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, November 6th. The company reported $0.10 earnings per share 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 the consensus estimate of $98.22 million. As a group, sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,979 shares of the company’s stock, valued at approximately $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.