Pharming Group’s (PHAR) Buy Rating Reiterated at HC Wainwright

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $37.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 234.39% from the company’s current price.

PHAR has been the subject of several other reports. Zacks Research downgraded Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Canaccord Genuity Group increased their target price on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.67.

Pharming Group Stock Up 2.4%

NASDAQ:PHAR traded up $0.26 during trading hours on Tuesday, reaching $11.06. The company had a trading volume of 31,955 shares, compared to its average volume of 20,300. Pharming Group has a twelve month low of $9.62 and a twelve month high of $21.34. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34. The firm has a market cap of $783.18 million, a price-to-earnings ratio of 92.21 and a beta of 0.01. The business’s 50-day simple moving average is $11.66 and its two-hundred day simple moving average is $13.60.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. On average, equities analysts expect that Pharming Group will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP acquired a new stake in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises about 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent SEC filing. Institutional investors and hedge funds own 0.03% of the company’s stock.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming’s principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.