Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares saw strong trading volume on Monday . 17,451 shares changed hands during trading, an increase of 72% from the previous session’s volume of 10,145 shares.The stock last traded at $16.6840 and had previously closed at $17.80.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PHAR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Zacks Research upgraded Pharming Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $38.00.

Pharming Group Trading Down 2.8%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.39 and a current ratio of 3.16. The business’s 50-day moving average is $15.96 and its two-hundred day moving average is $13.74. The stock has a market capitalization of $1.18 billion and a PE ratio of -1,680.82.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Pharming Group had a net margin of 0.30% and a return on equity of 0.46%. The firm had revenue of $97.30 million during the quarter, compared to the consensus estimate of $98.22 million. As a group, equities research analysts anticipate that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is owned by institutional investors and hedge funds.

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.