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Pharming Group (NASDAQ:PHAR) Shares Gap Up Following Better-Than-Expected Earnings

Pharming Group logo with Medical background

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Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $10.09, but opened at $11.16. Pharming Group shares last traded at $11.04, with a volume of 11,281 shares trading hands.

The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.16. Pharming Group had a negative net margin of 2.19% and a negative return on equity of 3.31%. The company had revenue of $93.20 million during the quarter, compared to analyst estimates of $70.36 million.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) by 8.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,147 shares of the company's stock after acquiring an additional 4,150 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.08% of Pharming Group worth $557,000 as of its most recent SEC filing. 0.03% of the stock is owned by institutional investors.

Pharming Group Trading Up 11.8%

The firm has a market capitalization of $839.25 million, a PE ratio of -94.23 and a beta of 0.02. The company's 50-day simple moving average is $10.74 and its 200 day simple moving average is $9.48. The company has a quick ratio of 2.07, a current ratio of 2.79 and a debt-to-equity ratio of 0.38.

Pharming Group Company Profile

(Get Free Report)

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.

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