Pharming Group (NASDAQ:PHAR) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Pharming Group (NASDAQ:PHAR) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage currently has a $37.00 target price on the stock.

PHAR has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $41.00 target price (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. Weiss Ratings lowered shares of Pharming Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen raised shares of Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.00.

Pharming Group Price Performance

Shares of NASDAQ:PHAR opened at $15.97 on Tuesday. Pharming Group has a fifty-two week low of $7.50 and a fifty-two week high of $21.34. The business has a 50-day moving average of $16.90 and a two-hundred day moving average of $16.13. The stock has a market capitalization of $1.12 billion, a P/E ratio of 1,597.00 and a beta of 0.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.59 and a quick ratio of 2.03.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.08). Pharming Group had a net margin of 0.71% and a return on equity of 1.08%. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $111.76 million. On average, equities research analysts predict that Pharming Group will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHAR. NewEdge Advisors LLC boosted its position 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 valued at $510,000 after acquiring an additional 28,615 shares during the period. Millennium Management LLC bought a new position in Pharming Group during the fourth quarter worth $360,000. SmartHarvest Portfolios LLC acquired a new position in Pharming Group during the 4th quarter valued at $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Pharming Group during the 2nd quarter valued at $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.