Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume – Time to Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) shares saw unusually-high trading volume on Friday. Approximately 84,704 shares changed hands during mid-day trading, an increase of 315% from the previous session’s volume of 20,429 shares. The stock last traded at $10.60 and had previously closed at $10.44.

Wall Street Analyst Weigh In

Several research firms recently commented on PHAR. Weiss Ratings restated a “sell (d)” rating on shares of Pharming Group in a research report on Friday, August 7th. Zacks Research lowered Pharming Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Canaccord Genuity Group set a $38.00 target price on Pharming Group in a research note on Wednesday. Oppenheimer reissued an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Finally, HC Wainwright restated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.67.

Pharming Group Stock Down 0.6%

The firm has a market cap of $734.34 million, a price-to-earnings ratio of 86.46 and a beta of 0.01. The business has a fifty day simple moving average of $11.50 and a 200 day simple moving average of $13.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.01 and a quick ratio of 2.31.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Pharming Group N.V. Sponsored ADR will post 0.22 EPS for the current fiscal year.

Institutional Trading of Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises approximately 6.0% of MAC Alpha Capital Management LP’s portfolio, making the stock its 2nd biggest position. MAC Alpha Capital Management LP owned about 3.03% of Pharming Group as of its most recent SEC filing. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.