Pharming Group (NASDAQ:PHAR) Shares Gap Up Following Strong Earnings

Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $9.00, but opened at $10.15. Pharming Group shares last traded at $10.22, with a volume of 3,575 shares trading hands.

The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The firm had revenue of $79.09 million for the quarter, compared to the consensus estimate of $67.74 million.

Wall Street Analyst Weigh In

PHAR has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a report on Thursday, March 20th. Oppenheimer upped their price objective on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, March 14th.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. Institutional investors own 0.03% of the company’s stock.

Pharming Group Stock Performance

The company’s 50 day moving average is $8.50 and its 200 day moving average is $8.71. The firm has a market cap of $682.35 million, a P/E ratio of -38.58 and a beta of -0.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.