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

Key Points

• Pharming Group shares jumped 9.6%, opening at $10.57 after closing at $9.65, and last traded at $10.69. The company has a market capitalization of approximately $748.9 million.
• Analyst sentiment is mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus Hold rating despite 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 valued at about $29.8 million, though institutional ownership remains very low at 0.03%.

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $9.65, but opened at $10.57. Pharming Group shares last traded at $10.69, with a volume of 6,499 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PHAR shares. Oppenheimer reiterated an "outperform" rating on shares of Pharming Group in a report on Thursday, July 30th. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a research note on Wednesday, September 23rd. HC Wainwright reaffirmed a "buy" rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, September 22nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Pharming Group in a research note on Friday, August 7th. Finally, Zacks Research cut Pharming Group from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $38.67.

Pharming Group Stock Up 9.6%

The stock's 50-day moving average price is $10.72 and its two-hundred day moving average price is $12.67. The stock has a market capitalization of $748.90 million, a P/E ratio of 88.58 and a beta of -0.05. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

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

Institutional Trading of Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP acquired a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group comprises about 6.0% of MAC Alpha Capital Management LP's portfolio, making the stock its 2nd biggest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent SEC filing. Institutional investors 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. The company develops and commercializes medicines for rare diseases and operates internationally, serving patients and healthcare providers in North America, Europe and other selected markets.

Pharming's principal product is Ruconest, a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause potentially serious swelling. The company also markets Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS), a rare primary immunodeficiency.

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