Pharming Group (NASDAQ:PHAR) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Pharming Group to “Hold,” while analysts remain divided; the stock has an average “Hold” rating and a consensus target price of $38.67.
• PHAR opened at $11.20, well below its 12-month high of $21.34, and recently missed quarterly earnings expectations, reporting EPS of $0.02 versus the $0.06 consensus estimate.
• MAC Alpha Capital Management established a new position of 2.15 million shares valued at approximately $29.8 million, representing 3.03% of Pharming Group.

Pharming Group (NASDAQ:PHAR - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also weighed in on PHAR. Weiss Ratings restated a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. HC Wainwright reissued a "buy" rating and issued a $37.00 price objective on shares of Pharming Group in a report on Tuesday, September 22nd. Oppenheimer reiterated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Canaccord Genuity Group set a $38.00 price objective on shares of Pharming Group in a research report on Wednesday, September 23rd. Finally, Zacks Research cut shares of Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.67.

Pharming Group Stock Performance

Shares of PHAR opened at $11.20 on Friday. Pharming Group has a 12 month low of $9.11 and a 12 month high of $21.34. The stock has a market capitalization of $792.74 million, a P/E ratio of 93.33 and a beta of -0.05. The firm's fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $12.62. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued its earnings results 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%. As a group, analysts predict that Pharming Group will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP purchased a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group comprises approximately 6.0% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 2nd largest position. MAC Alpha Capital Management LP owned 3.03% of Pharming Group at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company's stock.

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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