Pharming Group (NASDAQ:PHAR) Hits New 1-Year High – Here’s Why

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares hit a new 52-week high during trading on Friday . The company traded as high as $18.82 and last traded at $18.7150, with a volume of 8535 shares changing hands. The stock had previously closed at $17.89.

Analyst Ratings Changes

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

Pharming Group Price Performance

The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average price is $16.62 and its 200 day moving average price is $14.09. The company has a market capitalization of $1.28 billion and a P/E ratio of -1,871.13.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $98.22 million. As a group, sell-side analysts forecast that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,147 shares of the company’s stock after purchasing an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.08% of Pharming Group worth $557,000 at the end of the most recent reporting period. 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.