Pharming Group (NASDAQ:PHAR) Stock Price Up 6.7% - Here's What Happened

Pharming Group (NASDAQ:PHAR - Get Free Report) shares were up 6.7% during mid-day trading on Friday . The stock traded as high as $11.97 and last traded at $11.96. Approximately 1,508 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 6,422 shares. The stock had previously closed at $11.21.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th. Oppenheimer upped their target price on shares of Pharming Group from $30.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, March 14th.

Pharming Group Trading Up 6.4%

The firm's 50 day simple moving average is $9.19 and its two-hundred day simple moving average is $8.99. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The stock has a market cap of $811.54 million, a P/E ratio of -45.88 and a beta of 0.02.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $79.09 million during the quarter, compared to the consensus estimate of $67.74 million. As a group, equities research analysts predict that Pharming Group will post -0.2 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.