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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHARGet Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $12.71, but opened at $13.26. Pharming Group shares last traded at $13.35, with a volume of 1,629 shares changing hands.

Analyst Ratings Changes

PHAR has been the topic of a number of research reports. Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Tuesday, March 24th. Canaccord Genuity Group assumed coverage on Pharming Group in a research note on Friday, April 10th. They issued a “buy” rating and a $37.00 price objective on the stock. Weiss Ratings downgraded Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Zacks Research raised Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.33.

Check Out Our Latest Stock Report on Pharming Group

Pharming Group Trading Up 4.9%

The company has a market capitalization of $941.44 million, a PE ratio of 83.32 and a beta of -0.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.63 and a quick ratio of 2.06. The company’s fifty day moving average is $14.20 and its 200-day moving average is $16.00.

Pharming Group (NASDAQ:PHARGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). Pharming Group had a net margin of 3.30% and a return on equity of 4.64%. The company had revenue of $72.45 million for the quarter, compared to the consensus estimate of $92.06 million. On average, analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A number of institutional investors have recently added to or reduced their stakes in PHAR. NewEdge Advisors LLC grew its stake in 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 purchasing an additional 28,615 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Pharming Group during the fourth quarter valued at about $360,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Pharming Group during the fourth quarter valued at about $224,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Pharming Group in the 2nd quarter valued at about $32,000. Institutional investors own 0.03% of the company’s stock.

About Pharming Group

(Get Free Report)

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.

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