Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Pharming Group shares rose 1.5% to $11.455 amid 16,852 shares traded, though volume was 9% below the prior session.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and two rate it a Sell, resulting in a consensus Hold rating and a $38.67 target price.
• The company missed quarterly expectations, reporting $0.02 in EPS versus $0.06 expected and revenue of $90.2 million versus $99.52 million forecast; institutional ownership remains very low at 0.03%.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) shares saw strong trading volume on Tuesday . 16,852 shares were traded during mid-day trading, a decline of 9% from the previous session's volume of 18,556 shares.The stock last traded at $11.4550 and had previously closed at $11.35.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Zacks Research lowered Pharming Group from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Pharming Group from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Pharming Group currently has an average rating of "Hold" and a consensus target price of $38.67.

Pharming Group Trading Up 1.5%

The business's 50 day simple moving average is $12.71 and its 200-day simple moving average is $14.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31. The stock has a market capitalization of $815.60 million, a P/E ratio of 96.03 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.04). The company had revenue of $90.20 million for the quarter, compared to analyst estimates of $99.52 million. Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Pharming Group

Several institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in shares of 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 buying an additional 28,615 shares during the period. Millennium Management LLC bought a new stake in Pharming Group in the 4th quarter valued at approximately $360,000. SmartHarvest Portfolios LLC acquired a new position in Pharming Group during the 4th quarter worth approximately $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Pharming Group during the 2nd quarter worth approximately $32,000. Institutional investors own 0.03% of the company's stock.

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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