Pharming Group (NASDAQ:PHAR) Sees Large Volume Increase - Here's What Happened

Key Points

• Trading activity slowed, with volume down 15% to 23,379 shares and the stock last trading at $17.33 (up ~0.1%), while the 50- and 200-day moving averages sit near $16.16 and $16.33.
• Analyst coverage is mixed—three Buys, one Hold and one Sell—resulting in an average rating of Hold and an average price target of $38.33, including Oppenheimer at $41 and Canaccord/HC Wainwright at $37.
• Pharming missed the quarter, reporting EPS of $0.07 versus a $0.15 consensus and revenue of $106.5M versus $111.8M, with analysts expecting roughly -0.2 EPS for the fiscal year.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) shares saw an uptick in trading volume on Monday . 23,379 shares traded hands during trading, a decline of 15% from the previous session's volume of 27,552 shares.The stock last traded at $17.3280 and had previously closed at $17.09.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PHAR. Weiss Ratings upgraded Pharming Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 30th. Canaccord Genuity Group initiated coverage on Pharming Group in a research note on Friday. They set a "buy" rating and a $37.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating and set a $41.00 price target (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. HC Wainwright reaffirmed a "buy" rating and set a $37.00 price target on shares of Pharming Group in a research report on Tuesday, March 24th. Finally, Wall Street Zen raised shares of Pharming Group to a "strong-buy" rating in a research report on Saturday, December 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Pharming Group has an average rating of "Hold" and an average price target of $38.33.

Pharming Group Stock Up 0.1%

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.59 and a quick ratio of 2.03. The firm's 50-day moving average price is $16.16 and its 200 day moving average price is $16.33. The firm has a market cap of $1.20 billion, a P/E ratio of 1,711.00 and a beta of 0.05.

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

Hedge Funds Weigh In On Pharming Group

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new position in Pharming Group in the second quarter worth about $32,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the fourth quarter worth about $224,000. Millennium Management LLC bought a new position in Pharming Group in the fourth quarter worth about $360,000. Finally, NewEdge Advisors LLC lifted 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 worth $510,000 after acquiring an additional 28,615 shares during the last quarter. Institutional investors own 0.03% of the company's stock.

Pharming Group Company Profile

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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