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Pharming Group (NASDAQ:PHAR) Shares Gap Up on Earnings Beat

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.

The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.16. The firm had revenue of $93.20 million for the quarter, compared to analysts' expectations of $70.36 million. Pharming Group had a negative return on equity of 3.38% and a negative net margin of 2.19%.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,147 shares of the company's stock after purchasing an additional 4,150 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 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 and hedge funds.

Pharming Group Stock Down 1.4%

The firm has a fifty day moving average price of $10.70 and a 200-day moving average price of $9.47. The company has a quick ratio of 2.00, a current ratio of 2.76 and a debt-to-equity ratio of 0.39. The firm has a market cap of $750.87 million, a price-to-earnings ratio of -84.31 and a beta of 0.02.

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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