Pharming Group (NASDAQ:PHAR) Price Target Raised to $41.00

Pharming Group (NASDAQ:PHAR) had its price target lifted by stock analysts at Canaccord Genuity Group from $38.00 to $41.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would suggest a potential upside of 238.00% from the stock’s current price.

Several other brokerages also recently weighed in on PHAR. HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Tuesday, September 22nd. Zacks Research raised Pharming Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Wall Street Zen upgraded Pharming Group to a “hold” rating in a research note on Saturday, October 24th. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a report on Wednesday. Finally, Weiss Ratings upgraded Pharming Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pharming Group presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Pharming Group Stock Down 1.1%

PHAR stock traded down $0.13 during trading on Thursday, hitting $12.13. 12,423 shares of the stock traded hands, compared to its average volume of 20,333. Pharming Group has a 1 year low of $9.11 and a 1 year high of $21.34. The firm’s 50 day moving average is $10.70 and its two-hundred day moving average is $13.86. The stock has a market cap of $858.54 million, a price-to-earnings ratio of 101.08 and a beta of -0.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $117.60 million during the quarter, compared to analyst estimates of $117.60 million. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. On average, sell-side analysts anticipate that Pharming Group will post 0.32 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) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises 6.0% of MAC Alpha Capital Management LP’s holdings, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent SEC filing. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.