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

Key Points

• HC Wainwright reiterated a “Buy” rating on Pharming Group and maintained a $37 price target, implying approximately 230% upside from the stock’s $11.21 price.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus rating of “Hold” and an average price target of $38.67.
• Pharming reported quarterly EPS of $0.02, below the $0.06 consensus estimate. The company develops rare-disease treatments, including its principal product Ruconest.

Pharming Group (NASDAQ:PHAR - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They currently have a $37.00 price objective on the stock. HC Wainwright's target price would suggest a potential upside of 230.06% from the company's current price.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reissued a "sell (d)" rating on shares of Pharming Group in a research note on Friday, August 7th. Zacks Research cut Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Canaccord Genuity Group boosted their target price on 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 reaffirmed an "outperform" rating on shares of Pharming Group in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $38.67.

Pharming Group Price Performance

NASDAQ:PHAR opened at $11.21 on Monday. Pharming Group has a 52-week low of $9.62 and a 52-week high of $21.34. The stock has a fifty day moving average of $12.07 and a 200 day moving average of $13.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01. The firm has a market capitalization of $793.44 million, a price-to-earnings ratio of 93.42 and a beta of 0.01.

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 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%. On average, research analysts expect that Pharming Group will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A number of large investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock worth $510,000 after purchasing an additional 28,615 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Pharming Group during the fourth quarter valued at about $360,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the fourth quarter worth about $224,000. Finally, EverSource Wealth Advisors LLC bought a new position in Pharming Group in the second quarter worth about $32,000. 0.03% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.