Pharming Group (NASDAQ:PHAR) Stock Price Up 6.4% – Still a Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) traded up 6.4% on Tuesday . The company traded as high as $16.32 and last traded at $16.4140. 27,466 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 34,483 shares. The stock had previously closed at $15.42.

Analyst Ratings Changes

Several research analysts recently weighed in on PHAR shares. Weiss Ratings restated a “hold (c-)” rating on shares of Pharming Group in a research report on Monday, December 22nd. Zacks Research cut shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Wall Street Zen raised Pharming Group to a “strong-buy” rating in a research note 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. According to data from MarketBeat.com, Pharming Group currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Pharming Group Price Performance

The company has a market capitalization of $1.14 billion, a PE ratio of -1,628.37 and a beta of -0.01. The firm’s 50 day simple moving average is $17.65 and its 200 day simple moving average is $15.60. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On Pharming Group

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 second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is 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.