Pharming Group (NASDAQ:PHAR) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume surged 315% to 84,704 shares, while Pharming Group’s stock rose to $10.60 from a prior close of $10.44.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, resulting in an overall Hold rating with an average price target of $38.67.
• Pharming reported quarterly EPS of $0.02, below the $0.06 consensus estimate. Meanwhile, MAC Alpha Capital Management acquired 2.15 million shares, making Pharming its second-largest holding.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) saw unusually-strong trading volume on Friday. 84,704 shares traded hands during mid-day trading, an increase of 315% from the previous session's volume of 20,429 shares. The stock last traded at $10.60 and had previously closed at $10.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Oppenheimer reaffirmed an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a research note on Friday, August 7th. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a report on Wednesday. Finally, HC Wainwright restated a "buy" rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.67.

Pharming Group Trading Down 0.6%

The stock has a market cap of $734.34 million, a PE ratio of 86.46 and a beta of 0.01. The company's fifty day moving average is $11.50 and its 200-day moving average is $13.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. On average, analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP purchased a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group accounts for approximately 6.0% of MAC Alpha Capital Management LP's portfolio, making the stock its 2nd biggest position. MAC Alpha Capital Management LP owned approximately 3.03% of Pharming Group at the end of the most recent reporting period. Institutional investors and hedge funds own 0.03% of the company's stock.

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming's principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.

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