Pharming Group (NASDAQ:PHAR) Shares Gap Up - Time to Buy?

Key Points

• Pharming Group shares jumped from a prior close of $9.82 to open at $10.66, later trading at $10.81 on light volume.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, producing a consensus Hold rating and a $38.67 price target. Recent reports included downgrades from Weiss Ratings and Zacks Research, while Canaccord Genuity raised its target to $38 and maintained a Buy rating.
• 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. Pharming’s stock trades at a high P/E of 89.58, while its lead product is RUCONEST, approved for acute hereditary angioedema attacks.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $9.82, but opened at $10.66. Pharming Group shares last traded at $10.81, with a volume of 785 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PHAR shares. Weiss Ratings downgraded Pharming Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Oppenheimer reiterated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Zacks Research lowered shares of Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. 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. Finally, Canaccord Genuity Group raised 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. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Pharming Group presently has a consensus rating of "Hold" and a consensus price target of $38.67.

Pharming Group Stock Performance

The stock's 50 day moving average price is $12.90 and its 200 day moving average price is $15.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.06 and a current ratio of 3.01. The company has a market capitalization of $760.88 million, a P/E ratio of 89.58 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.04). The firm had revenue of $90.20 million for the quarter, compared to the consensus estimate of $99.52 million. Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, equities analysts expect that Pharming Group N.V. Sponsored ADR will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PHAR. NewEdge Advisors LLC lifted its stake in shares of Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock valued at $510,000 after purchasing an additional 28,615 shares during the period. Millennium Management LLC acquired a new stake in Pharming Group during the fourth quarter worth approximately $360,000. SmartHarvest Portfolios LLC bought a new stake in Pharming Group in the fourth quarter worth approximately $224,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Pharming Group in the second quarter worth approximately $32,000. 0.03% of the stock is owned by institutional investors.

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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