Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume After Analyst Upgrade

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw strong trading volume on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 23,379 shares were traded during trading, a decline of 15% from the previous session’s volume of 27,552 shares.The stock last traded at $17.3280 and had previously closed at $17.09.

PHAR has been the subject of several other reports. Wall Street Zen raised shares of Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Canaccord Genuity Group assumed coverage on shares of Pharming Group in a report on Friday, April 10th. They set a “buy” rating and a $37.00 price target for the company. Weiss Ratings raised shares of Pharming Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 30th. Oppenheimer reissued an “outperform” rating and set a $41.00 price target (down from $42.00) on shares of Pharming Group in a report on Friday, March 13th. Finally, HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Pharming Group presently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Hedge Funds Weigh In On Pharming Group

A number of institutional investors have recently modified their holdings of PHAR. EverSource Wealth Advisors LLC bought a new position in shares of Pharming Group in the second quarter worth about $32,000. SmartHarvest Portfolios LLC bought a new position in shares of Pharming Group in the fourth quarter worth about $224,000. Millennium Management LLC bought a new position in shares of Pharming Group in the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC raised its stake in shares of Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after acquiring an additional 28,615 shares during the last quarter. 0.03% of the stock is owned by institutional investors.

Pharming Group Stock Performance

The company has a market capitalization of $1.24 billion, a P/E ratio of 1,768.00 and a beta of 0.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.59 and a quick ratio of 2.03. The stock’s 50 day simple moving average is $16.17 and its two-hundred day simple moving average is $16.37.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). Pharming Group had a return on equity of 1.08% and a net margin of 0.71%.The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $111.76 million. As a group, research analysts expect that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current year.

Pharming Group Company Profile

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.