Pharming Group's (PHAR) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “buy” rating on Pharming Group and maintained a $37 price target, implying approximately 234% upside from the prior close.
• Analyst sentiment is mixed: three analysts rate the stock a buy and two rate it a sell, resulting in a consensus “hold” rating and an average price target of $38.67.
• Pharming’s shares recently traded at $11.06 after the company missed quarterly EPS expectations, reporting $0.02 versus the $0.06 consensus estimate.

Pharming Group (NASDAQ:PHAR - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $37.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 234.39% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Pharming Group in a report on Friday, August 7th. Zacks Research downgraded Pharming Group from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Canaccord Genuity Group upped their price objective on shares of Pharming Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Oppenheimer reissued an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Pharming Group presently has a consensus rating of "Hold" and an average price target of $38.67.

Pharming Group Stock Performance

PHAR stock traded up $0.26 during midday trading on Tuesday, reaching $11.06. 31,955 shares of the company were exchanged, compared to its average volume of 20,300. Pharming Group has a one year low of $9.62 and a one year high of $21.34. The firm has a market capitalization of $783.18 million, a price-to-earnings ratio of 92.21 and a beta of 0.01. The business has a 50-day moving average price of $11.66 and a two-hundred day moving average price of $13.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. Equities research analysts forecast that Pharming Group will post 0.22 EPS for the current year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP acquired a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group accounts for 6.0% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 2nd biggest holding. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent filing with the SEC. 0.03% of the stock is owned by institutional investors and hedge funds.

Pharming Group Company Profile

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.

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