Pharming Group (NASDAQ:PHAR) Shares Climb 8% – What’s Next?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares were up 8% during trading on Friday. The company traded as high as $11.38 and last traded at $11.5210. 4,289 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 20,111 shares. The stock had previously closed at $10.67.

Analysts Set New Price Targets

PHAR has been the subject of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Canaccord Genuity Group set a $38.00 target price on Pharming Group in a research note on Wednesday, September 23rd. Zacks Research cut shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research report on Tuesday, September 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

Pharming Group Stock Up 4.1%

The business’s 50-day moving average price is $10.68 and its 200-day moving average price is $12.63. The firm has a market capitalization of $786.30 million, a PE ratio of 92.58 and a beta of -0.05. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.34.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a net margin of 2.51% and a return on equity of 3.40%. As a group, equities research analysts predict that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new position in Pharming Group stock. MAC Alpha Capital Management LP acquired a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group makes up 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned 3.03% of Pharming Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.