Pharming Group (NASDAQ:PHAR) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Pharming Group from a strong-buy to a hold rating, even as the broader analyst consensus remains Moderate Buy with an average price target of $38.33.
• The stock was up 8.2% and opened at $12.98, but it still trades well below its 52-week high of $21.34 and below its 50-day and 200-day moving averages.
• Pharming Group recently reported weaker-than-expected earnings, posting a loss of $0.07 EPS versus estimates for a profit of $0.05, while revenue of $72.45 million also missed forecasts.

Pharming Group (NASDAQ:PHAR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also recently issued reports about the stock. Oppenheimer reissued an "outperform" rating and set a $41.00 price target (down from $42.00) on shares of Pharming Group in a report on Friday, March 13th. Weiss Ratings raised shares of Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 27th. Canaccord Genuity Group assumed coverage on shares of Pharming Group in a report on Friday, April 10th. They issued a "buy" rating and a $37.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 target price on shares of Pharming Group in a report on Tuesday, March 24th. Finally, Zacks Research raised shares of Pharming Group from a "strong sell" rating to a "hold" rating in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.33.

Pharming Group Trading Up 8.2%

NASDAQ PHAR opened at $12.98 on Friday. The stock has a market capitalization of $916.65 million, a P/E ratio of 81.13 and a beta of 0.04. Pharming Group has a 52-week low of $8.69 and a 52-week high of $21.34. The firm has a 50-day moving average price of $16.28 and a 200 day moving average price of $16.56. The company has a quick ratio of 2.03, a current ratio of 2.59 and a debt-to-equity ratio of 0.33.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm had revenue of $72.45 million for the quarter, compared to analysts' expectations of $92.06 million. Pharming Group had a return on equity of 4.68% and a net margin of 3.30%. Equities research analysts expect that Pharming Group will post 0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock valued at $510,000 after buying an additional 28,615 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Pharming Group in the fourth quarter valued at approximately $360,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group in the fourth quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Pharming Group in the second quarter valued at approximately $32,000. 0.03% of the stock is owned by hedge funds and other institutional investors.

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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