Pharming Group (NASDAQ:PHAR) Stock Rating Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Pharming Group to “strong buy” from “hold,” while the broader analyst consensus remains “hold” with a $39.67 price target.
• Pharming reported quarterly EPS of $0.30, exceeding the $0.21 analyst estimate, on revenue of $117.6 million, which matched expectations.
• MAC Alpha Capital Management purchased 2.15 million shares worth approximately $29.8 million, giving it a 3.03% stake in the company.

Pharming Group (NASDAQ:PHAR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on PHAR. HC Wainwright reaffirmed a "buy" rating and set a $37.00 price objective on shares of Pharming Group in a research report on Tuesday, September 22nd. Canaccord Genuity Group boosted their target price on Pharming Group from $38.00 to $41.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings upgraded Pharming Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research note on Wednesday. Finally, Zacks Research raised Pharming Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.67.

Pharming Group Price Performance

Shares of NASDAQ:PHAR opened at $12.23 on Friday. Pharming Group has a one year low of $9.11 and a one year high of $21.34. The stock has a market capitalization of $865.64 million, a price-to-earnings ratio of 38.22 and a beta of -0.05. The company has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $13.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.31 and a current ratio of 3.23.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.09. The firm had revenue of $117.60 million for the quarter, compared to analyst estimates of $117.60 million. Pharming Group had a return on equity of 8.70% and a net margin of 6.23%. On average, analysts predict that Pharming Group will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group makes up 6.0% of MAC Alpha Capital Management LP's holdings, making the stock its 2nd largest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group at the end of the most recent reporting period. 0.03% of the stock is owned by institutional investors and hedge funds.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and operates internationally, serving patients and healthcare providers in North America, Europe and other selected markets.

Pharming's principal product is Ruconest, a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause potentially serious swelling. The company also markets Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS), a rare primary immunodeficiency.

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