Pharming Group (NASDAQ:PHAR) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Pharming Group (NASDAQ:PHAR) from a strong-buy rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer reissued an “outperform” rating and set a $41.00 target price (down from $42.00) on shares of Pharming Group in a report on Friday, March 13th. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Tuesday, March 24th. Weiss Ratings raised Pharming Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Zacks Research raised Pharming Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Finally, Canaccord Genuity Group assumed coverage on Pharming Group in a report on Friday, April 10th. They set a “buy” rating and a $37.00 target price on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Pharming Group Stock Performance

PHAR opened at $12.98 on Friday. The business’s 50 day moving average is $16.28 and its 200-day moving average is $16.56. The stock has a market cap of $916.71 million, a PE ratio of 81.13 and a beta of 0.04. The company has a current ratio of 2.59, a quick ratio of 2.03 and a debt-to-equity ratio of 0.33. Pharming Group has a twelve month low of $8.69 and a twelve month high of $21.34.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $72.45 million for the quarter, compared to the consensus estimate of $92.06 million. Pharming Group had a net margin of 3.30% and a return on equity of 4.68%. On average, analysts predict that Pharming Group will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new position in Pharming Group in the second quarter worth approximately $32,000. SmartHarvest Portfolios LLC purchased a new position in Pharming Group during the 4th quarter worth approximately $224,000. Millennium Management LLC purchased a new position in Pharming Group during the 4th quarter worth approximately $360,000. Finally, NewEdge Advisors LLC grew its position 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 purchasing an additional 28,615 shares in the last quarter. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.