Pharming Group (NASDAQ:PHAR) Shares Gap Up - Should You Buy?

Key Points

• Pharming Group shares opened higher, rising from a prior close of $11.11 to $11.51 before trading near $11.26, though volume was light.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and two rate it a Sell, resulting in an average “Hold” rating and an average price target of $38.67.
• The company missed quarterly earnings expectations, reporting $0.02 per share versus the $0.06 consensus estimate; institutional and hedge-fund ownership remains very low at 0.03%.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $11.11, but opened at $11.51. Pharming Group shares last traded at $11.2590, with a volume of 2,159 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. Canaccord Genuity Group raised their price target on Pharming Group from $37.00 to $38.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research note on Thursday, July 30th. Zacks Research downgraded shares of Pharming Group from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Pharming Group currently has an average rating of "Hold" and an average target price of $38.67.

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01. The company's 50 day moving average price is $12.44 and its 200-day moving average price is $14.11. The company has a market cap of $799.46 million, a price-to-earnings ratio of 94.12 and a beta of 0.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued 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). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. On average, equities research analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the second quarter valued at $32,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group in the 4th quarter worth about $224,000. Millennium Management LLC acquired a new stake in Pharming Group during the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC raised its holdings in 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 period. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source