Pharming Group (NASDAQ:PHAR) Trading Up 6% – Still a Buy?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) were up 6% during trading on Wednesday . The stock traded as high as $18.10 and last traded at $18.28. Approximately 15,698 shares changed hands during trading, an increase of 55% from the average daily volume of 10,129 shares. The stock had previously closed at $17.24.

Analyst Ratings Changes

Several research firms have issued reports on PHAR. Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a research report on Monday. Zacks Research raised Pharming Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Pharming Group has a consensus rating of “Buy” and an average price target of $38.00.

Pharming Group Stock Performance

The stock has a market capitalization of $1.25 billion and a PE ratio of -1,826.17. 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 firm has a 50 day moving average of $15.72 and a 200-day moving average of $13.61.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, November 6th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $97.30 million for the quarter, compared to the consensus estimate of $98.22 million. Pharming Group had a return on equity of 0.46% and a net margin of 0.30%. Research analysts forecast 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

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