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

Shares of 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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, March 24th. Wall Street Zen cut Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Oppenheimer reiterated an “outperform” rating and set a $41.00 price objective (down from $42.00) on shares of Pharming Group in a research note on Friday, March 13th. Finally, Canaccord Genuity Group assumed coverage on shares of Pharming Group in a report on Friday, April 10th. They issued a “buy” rating and a $37.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.33.

Pharming Group Trading Up 0.9%

The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $15.95. The firm has a market capitalization of $916.65 million, a P/E ratio of 81.13 and a beta of -0.04.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business 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, research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.6 EPS for the current year.

Hedge Funds Weigh In On Pharming Group

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in Pharming Group in the 2nd quarter valued at $32,000. SmartHarvest Portfolios LLC purchased a new position in shares of Pharming Group during the fourth quarter valued at about $224,000. Millennium Management LLC purchased a new position in shares of Pharming Group during the fourth quarter valued at about $360,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after purchasing an additional 28,615 shares during the last quarter. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.