Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.46, but opened at $11.86. Pharming Group shares last traded at $11.84, with a volume of 3,597 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PHAR. Zacks Research downgraded shares of Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Canaccord Genuity Group raised their target price on shares of Pharming Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Pharming Group in a report on Friday, August 7th. Oppenheimer restated an “outperform” rating on shares of Pharming Group in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Pharming Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.67.

Pharming Group Trading Down 0.0%

The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31. The firm has a market capitalization of $832.80 million, a PE ratio of 98.01 and a beta of -0.01. The company’s fifty day simple moving average is $12.55 and its 200-day simple moving average is $14.27.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.02 EPS 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 0.25 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

A number of hedge funds have recently bought and sold shares of PHAR. EverSource Wealth Advisors LLC acquired a new stake in Pharming Group in the 2nd quarter valued at about $32,000. SmartHarvest Portfolios LLC acquired a new position in shares of Pharming Group during the 4th quarter worth approximately $224,000. Millennium Management LLC acquired a new position in shares of Pharming Group during the 4th quarter worth approximately $360,000. Finally, NewEdge Advisors LLC grew its position in shares of 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 purchasing an additional 28,615 shares in the last quarter. 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.