Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s Why

Pharming Group (NASDAQ:PHAR) shares gapped up prior to trading on Monday . The stock had previously closed at $9.13, but opened at $9.32. Pharming Group shares last traded at $9.77, with a volume of 3,566 shares trading hands.

Analyst Upgrades and Downgrades

PHAR has been the topic of several research reports. Oppenheimer upped their price target on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Thursday, March 20th.

Pharming Group Price Performance

The business has a fifty day moving average price of $8.62 and a 200 day moving average price of $8.74. The company has a market capitalization of $630.65 million, a price-to-earnings ratio of -35.65 and a beta of -0.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Pharming Group (NASDAQ:PHAR) last announced its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The business had revenue of $79.09 million during the quarter, compared to analysts’ expectations of $67.74 million. On average, research analysts expect that Pharming Group will post -0.2 earnings per share for the current fiscal year.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.