Pharming Group (NASDAQ:PHAR) Sets New 1-Year High – Time to Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.34 and last traded at $21.18, with a volume of 29187 shares changing hands. The stock had previously closed at $20.40.

Analysts Set New Price Targets

Several brokerages recently commented on PHAR. Zacks Research downgraded Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Finally, Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Pharming Group Trading Up 3.8%

The firm has a market cap of $1.49 billion and a P/E ratio of -2,115.88. The business’s 50-day moving average is $17.55 and its two-hundred day moving average is $14.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.16 and a quick ratio of 2.39.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. Pharming Group had a return on equity of 0.46% and a net margin of 0.30%.The business had revenue of $97.30 million for the quarter, compared to analyst estimates of $98.22 million. As a group, analysts predict that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC acquired a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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.

Pharming Group Company Profile

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.