Pharming Group (NASDAQ:PHAR) Shares Gap Up - What's Next?

Key Points

• Pharming Group shares gapped higher, opening at $11.86 versus the prior close of $11.46, though trading volume was low at 3,597 shares.
• Analyst views remain mixed: three analysts rate the stock Buy and two rate it Sell, resulting in a consensus Hold rating with a $38.67 target price.
• The company reported quarterly EPS of $0.02, missing the $0.06 consensus estimate. Pharming has a market capitalization of approximately $832.8 million and is expected to post $0.25 EPS for the current year.

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 $11.46, but opened at $11.86. Pharming Group shares last traded at $11.84, with a volume of 3,597 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Pharming Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Pharming Group in a research report on Friday, August 7th. Canaccord Genuity Group raised their price objective on shares of Pharming Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Oppenheimer restated an "outperform" rating on shares of Pharming Group in a research report on Thursday, July 30th. 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 company's stock. Based on data from MarketBeat.com, Pharming Group presently has a consensus rating of "Hold" and a consensus target price of $38.67.

Pharming Group Trading Down 0.0%

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 fifty day simple moving average is $12.55 and its 200-day simple moving average is $14.27. The company has a market capitalization of $832.80 million, a P/E ratio of 98.01 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS 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%. Research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Pharming Group

A number of hedge funds have recently made changes to their positions in PHAR. NewEdge Advisors LLC grew its position in shares of Pharming Group by 11,310.3% in 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 purchased a new stake in shares of Pharming Group during the fourth quarter valued at $360,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group in the fourth quarter valued at about $224,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Pharming Group in the second quarter worth about $32,000. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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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