Pharming Group (NASDAQ:PHAR) Stock Price Up 6.4% – Here’s Why

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares traded up 6.4% during trading on Tuesday . The stock traded as high as $16.32 and last traded at $16.4140. 27,466 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 34,483 shares. The stock had previously closed at $15.42.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PHAR shares. Wall Street Zen raised shares of Pharming Group to a “strong-buy” rating in a research note on Saturday, December 27th. Zacks Research cut Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Pharming Group in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Pharming Group Stock Up 5.7%

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1,628.37 and a beta of -0.01. The company has a current ratio of 3.16, a quick ratio of 2.39 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $15.60.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. EverSource Wealth Advisors LLC purchased a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is currently 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.