Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts currently rate Pharming Group as a Hold on average, based on coverage from five research firms. The breakdown includes three buy ratings, one hold, and one sell, with an average 12-month price target of about $38.33.
• The stock has seen mixed recent analyst action, including a new buy initiation from Canaccord Genuity and downgrades from Wall Street Zen and Weiss Ratings. Zacks Research also upgraded the stock to hold, while HC Wainwright reiterated a buy rating and $37 price target.
• Pharming Group recently missed earnings and revenue expectations for the quarter, reporting EPS of -$0.07 versus an expected $0.05 and revenue of $72.45 million versus $92.06 million estimated. The stock opened at $13.47 and remains well below the analysts’ average target price.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) has received an average recommendation of "Hold" from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.3333.

PHAR has been the subject of several recent analyst reports. Canaccord Genuity Group started coverage on shares of Pharming Group in a research report on Friday, April 10th. They set a "buy" rating and a $37.00 price objective for the company. 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. Weiss Ratings downgraded shares of Pharming Group from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Zacks Research upgraded shares of Pharming Group from a "strong sell" rating to a "hold" rating in a research report on Friday, April 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, March 24th.

Pharming Group Price Performance

Pharming Group stock opened at $13.47 on Friday. The firm has a market cap of $951.25 million, a PE ratio of 84.19 and a beta of -0.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.63 and a quick ratio of 2.06. The stock's fifty day moving average price is $13.12 and its two-hundred day moving average price is $15.55. Pharming Group has a one year low of $9.54 and a one year high of $21.34.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.The company had revenue of $72.45 million for the quarter, compared to analyst estimates of $92.06 million. As a group, research analysts expect that Pharming Group will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company's stock worth $510,000 after buying an additional 28,615 shares during the last quarter. Millennium Management LLC acquired a new stake in Pharming Group in the fourth quarter valued at about $360,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the fourth quarter valued at about $224,000. Finally, EverSource Wealth Advisors LLC bought a new position in Pharming Group in the second quarter valued at about $32,000. Institutional investors own 0.03% of the company's stock.

About Pharming Group

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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