Pharming Group (NASDAQ:PHAR) Stock Jumps 8% - Still a Buy?

Key Points

• Pharming Group shares rose 8% to approximately $11.52, despite unusually low trading volume. The stock remains below its 200-day moving average and carries a high P/E ratio of 92.58.
• Analyst views are mixed: three analysts rate the stock a Buy and two rate it a Sell, resulting in a consensus rating of Hold. The average price target of $38.67 implies substantial upside from recent trading levels.
• The company missed quarterly earnings expectations, reporting $0.02 per share versus the $0.06 consensus estimate. MAC Alpha Capital Management acquired a 3.03% stake, while institutional ownership overall remains very low at 0.03%.

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report)'s stock price traded up 8% on Friday. The company traded as high as $11.38 and last traded at $11.5210. Approximately 4,289 shares traded hands during trading, a decline of 79% from the average session volume of 20,111 shares. The stock had previously closed at $10.67.

Analysts Set New Price Targets

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

Pharming Group Trading Up 4.1%

The firm has a fifty day moving average of $10.68 and a 200 day moving average of $12.63. The firm has a market capitalization of $786.30 million, a PE ratio of 92.58 and a beta of -0.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR - Get Free Report) last released its quarterly 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%. Equities research analysts expect that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new stake in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,148,144 shares of the company's stock, valued at approximately $29,838,000. Pharming Group makes up about 6.0% of MAC Alpha Capital Management LP's portfolio, making the stock its 2nd largest 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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