Pharming Group (NASDAQ:PHAR) Releases Earnings Results, Beats Estimates By $0.15 EPS

Pharming Group (NASDAQ:PHAR) announced its quarterly earnings results on Tuesday. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15, FiscalAI reports. Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. The company had revenue of $117.60 million for the quarter, compared to analysts’ expectations of $117.60 million.

Pharming Group Trading Up 6.3%

Shares of PHAR opened at $11.90 on Tuesday. Pharming Group has a twelve month low of $9.11 and a twelve month high of $21.34. The company has a market cap of $842.28 million, a P/E ratio of 99.17 and a beta of -0.05. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $13.92.

Analysts Set New Price Targets

A number of brokerages recently commented on PHAR. Zacks Research raised shares of Pharming Group from a “strong sell” rating to a “hold” rating in a report on Friday. Canaccord Genuity Group set a $38.00 price objective on Pharming Group in a research note on Wednesday, September 23rd. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised Pharming Group to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.67.

About Pharming Group

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.