Pharming Group (NASDAQ:PHAR) Shares Gap Up – Still a Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.82, but opened at $10.66. Pharming Group shares last traded at $10.81, with a volume of 785 shares changing hands.

Analyst Ratings Changes

PHAR has been the subject of several research reports. Wall Street Zen cut Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Canaccord Genuity Group increased their price objective on Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings downgraded Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Stock Up 2.8%

The firm has a market cap of $789.13 million, a price-to-earnings ratio of 92.67 and a beta of -0.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.06. The stock has a 50-day moving average of $12.78 and a 200-day moving average of $14.94.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $90.20 million during the quarter, compared to analyst estimates of $99.52 million. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. Sell-side analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC grew its stake in Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Pharming Group in the 4th quarter valued at approximately $360,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group in the 4th quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Pharming Group during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.