Pharming Group’s (PHAR) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Pharming Group (NASDAQ:PHAR) in a report issued on Tuesday morning, Marketbeat.com reports. They currently have a $37.00 target price on the stock.

Several other brokerages have also recently issued reports on PHAR. Weiss Ratings cut shares of Pharming Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Wall Street Zen raised shares of Pharming Group to a “strong-buy” rating in a research report on Saturday, December 27th. Oppenheimer reiterated an “outperform” rating and set a $41.00 price objective (down from $42.00) on shares of Pharming Group in a research note on Friday, March 13th. Finally, Zacks Research lowered shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Pharming Group currently has an average rating of “Hold” and an average target price of $39.00.

Pharming Group Stock Up 0.5%

Shares of NASDAQ:PHAR opened at $16.31 on Tuesday. The business’s 50 day moving average is $16.81 and its 200 day moving average is $16.13. The stock has a market cap of $1.14 billion, a P/E ratio of 1,631.00 and a beta of 0.04. Pharming Group has a 52-week low of $7.50 and a 52-week high of $21.34. The company has a quick ratio of 2.03, a current ratio of 2.59 and a debt-to-equity ratio of 0.33.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 12th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.08). The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $111.76 million. Pharming Group had a return on equity of 1.08% and a net margin of 0.71%. Sell-side analysts predict that Pharming Group will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PHAR. Millennium Management LLC purchased a new stake in Pharming Group during the fourth quarter valued at approximately $360,000. NewEdge Advisors LLC increased its position in shares of Pharming Group by 11,310.3% during the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after purchasing an additional 28,615 shares in the last quarter. SmartHarvest Portfolios LLC purchased a new stake in shares of Pharming Group during the 4th quarter valued at $224,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Pharming Group during the 2nd quarter valued at $32,000. Institutional investors own 0.03% of the company’s stock.

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.