Pharming Group (NASDAQ:PHAR) Earns “Buy” Rating from HC Wainwright

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $37.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 127.97% from the stock’s current price.

A number of other research firms have also issued reports on PHAR. Weiss Ratings lowered Pharming Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Wall Street Zen upgraded Pharming Group to a “strong-buy” rating in a report on Saturday, December 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $41.00 price target (down from $42.00) on shares of Pharming Group in a research report on Friday, March 13th. Finally, Zacks Research cut Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.00.

Pharming Group Price Performance

Shares of PHAR opened at $16.23 on Tuesday. The company has a market cap of $1.14 billion, a P/E ratio of 1,623.00 and a beta of 0.04. Pharming Group has a fifty-two week low of $7.50 and a fifty-two week high of $21.34. The company has a quick ratio of 2.03, a current ratio of 2.59 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $16.85 and its 200 day moving average price is $16.13.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $111.76 million. Pharming Group had a net margin of 0.71% and a return on equity of 1.08%. On average, research analysts forecast that Pharming Group will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Pharming Group by 11,310.3% in the fourth quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after buying an additional 28,615 shares during the last quarter. Millennium Management LLC purchased a new stake in Pharming Group during the 4th quarter worth about $360,000. SmartHarvest Portfolios LLC purchased a new stake in Pharming Group during the 4th quarter worth about $224,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Pharming Group during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.