Pharming Group (NASDAQ:PHAR) Stock Price Up 10.1% - Here's What Happened

Pharming Group (NASDAQ:PHAR - Get Free Report) shot up 10.1% during trading on Friday . The stock traded as high as $10.60 and last traded at $11.03. 907 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 6,421 shares. The stock had previously closed at $10.02.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PHAR. Oppenheimer boosted their price target on shares of Pharming Group from $30.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. HC Wainwright reissued a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The firm's 50 day simple moving average is $8.95 and its 200-day simple moving average is $8.90. The company has a market cap of $741.20 million, a price-to-earnings ratio of -41.90 and a beta of -0.08.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. The company had revenue of $79.09 million for the quarter, compared to analysts' expectations of $67.74 million. On average, sell-side analysts predict that Pharming Group will post -0.2 EPS for the current year.

Pharming Group Company Profile

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.