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

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped up before the market opened 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Wall Street Zen cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Oppenheimer restated an “outperform” rating and issued a $41.00 target price (down from $42.00) on shares of Pharming Group in a report on Friday, March 13th. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, March 24th. Finally, Canaccord Genuity Group initiated coverage on shares of Pharming Group in a report on Friday, April 10th. They issued a “buy” rating and a $37.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.33.

Pharming Group Price Performance

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

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data 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). The firm had revenue of $72.45 million during the quarter, compared to the consensus estimate of $92.06 million. Pharming Group had a return on equity of 4.64% and a net margin of 3.30%. As a group, analysts predict that Pharming Group N.V. Sponsored ADR will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

Several hedge funds have recently bought and sold shares of PHAR. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group in the second quarter worth $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 purchased a new position in Pharming Group in the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC increased its stake in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the period. Institutional investors own 0.03% of the company’s stock.

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.