Pharming Group (NASDAQ:PHAR) Coverage Initiated at Canaccord Genuity Group

Key Points

• Canaccord Genuity initiated coverage with a Buy rating and a $37.00 price target, implying about a 117.9% upside from the prior close.
• Analyst sentiment is mixed—three Buys, one Hold and one Sell—leaving a MarketBeat consensus rating of Hold and a consensus price target of $38.33.
• Pharming trades around $16.98 with a $1.19B market cap, recently missed quarterly EPS ($0.07 vs. $0.15 est.), and analysts expect about -0.2 EPS for the current fiscal year, indicating near-term earnings pressure.

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Pharming Group (NASDAQ:PHAR - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a "buy" rating and a $37.00 price target on the stock. Canaccord Genuity Group's price target suggests a potential upside of 117.90% from the company's previous close.

Other research analysts have also recently issued reports about the company. HC Wainwright restated a "buy" rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, March 24th. Zacks Research cut Pharming Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 12th. Wall Street Zen upgraded Pharming Group to a "strong-buy" rating in a research note on Saturday, December 27th. Weiss Ratings upgraded Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 30th. Finally, Oppenheimer restated an "outperform" rating and issued a $41.00 price objective (down from $42.00) on shares of Pharming Group in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pharming Group presently has a consensus rating of "Hold" and a consensus price target of $38.33.

Pharming Group Stock Performance

Pharming Group stock opened at $16.98 on Friday. The stock has a 50-day moving average of $16.23 and a two-hundred day moving average of $16.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.03 and a current ratio of 2.59. Pharming Group has a one year low of $7.79 and a one year high of $21.34. The stock has a market cap of $1.19 billion, a PE ratio of 1,698.00 and a beta of 0.05.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). Pharming Group had a return on equity of 1.08% and a net margin of 0.71%.The firm had revenue of $106.50 million during the quarter, compared to analysts' expectations of $111.76 million. On average, research analysts anticipate that Pharming Group will post -0.2 EPS for the current fiscal year.

Institutional Trading of Pharming Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group during the second quarter worth about $32,000. SmartHarvest Portfolios LLC acquired a new stake in Pharming Group during the fourth quarter worth about $224,000. Millennium Management LLC acquired a new stake in Pharming Group during the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC grew its holdings in Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock worth $510,000 after acquiring an additional 28,615 shares during the period. 0.03% of the stock is owned by institutional investors and hedge funds.

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.

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