Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume – Time to Buy?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . 54,371 shares were traded during trading, an increase of 186% from the previous session’s volume of 19,016 shares.The stock last traded at $10.54 and had previously closed at $10.55.

Wall Street Analysts Forecast Growth

PHAR has been the subject of several research reports. Zacks Research downgraded shares of Pharming Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Monday. Canaccord Genuity Group increased their price target on Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a report on Thursday, July 30th. 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, the stock has a consensus rating of “Hold” and a consensus target price of $38.67.

Pharming Group Price Performance

The stock has a market cap of $748.50 million, a P/E ratio of 88.12 and a beta of 0.01. The company’s 50 day moving average price is $11.92 and its 200-day moving average price is $13.75. 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 issued its quarterly earnings data on Thursday, July 30th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Pharming Group had a return on equity of 3.40% and a net margin of 2.51%. As a group, sell-side analysts expect that Pharming Group N.V. Sponsored ADR will post 0.22 earnings per share for the current year.

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands, focused on developing and commercializing treatments for rare diseases. The company uses its expertise in protein replacement therapies and other biotechnology platforms to address conditions with limited treatment options.

Pharming’s principal product is Ruconest (conestat alfa), a recombinant human C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause severe swelling.