Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s What Happened

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) gapped up before the market opened on Wednesday . The stock had previously closed at $9.82, but opened at $10.66. Pharming Group shares last traded at $10.81, with a volume of 785 shares traded.

Wall Street Analysts Forecast Growth

PHAR has been the topic of a number of research reports. Weiss Ratings downgraded shares of Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. Canaccord Genuity Group lifted their price target on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday. Zacks Research downgraded shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.67.

Pharming Group Trading Up 4.8%

The business has a fifty day moving average of $12.90 and a 200-day moving average of $15.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.06 and a current ratio of 3.01. The company has a market capitalization of $760.88 million, a P/E ratio of 89.58 and a beta of -0.01.

Pharming Group (NASDAQ:PHAR) last posted 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). The business had revenue of $90.20 million during the quarter, compared to analyst estimates of $99.52 million. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. Analysts anticipate that Pharming Group N.V. Sponsored ADR will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Pharming Group in the 2nd quarter worth about $32,000. SmartHarvest Portfolios LLC bought a new position in Pharming Group in the 4th quarter valued at about $224,000. Millennium Management LLC acquired a new position in Pharming Group during the 4th quarter valued at about $360,000. Finally, NewEdge Advisors LLC boosted its stake in Pharming Group by 11,310.3% during the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after purchasing an additional 28,615 shares during the last quarter. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.