Brokerages Set Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) Price Target at $38.67

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.6667.

A number of brokerages have commented on PHAR. Canaccord Genuity Group lifted their price target on Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Weiss Ratings restated a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th.

Pharming Group Trading Down 4.6%

NASDAQ PHAR opened at $10.97 on Monday. The company has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $13.92. The stock has a market cap of $776.46 million, a P/E ratio of 91.42 and a beta of 0.01. Pharming Group has a 12-month low of $9.62 and a 12-month high of $21.34. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. On average, analysts forecast that Pharming Group will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group during the 2nd quarter valued at approximately $32,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Pharming Group in the fourth quarter worth $224,000. Millennium Management LLC acquired a new stake in shares of Pharming Group in the fourth quarter worth $360,000. Finally, NewEdge Advisors LLC raised its holdings 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 during the last quarter. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.