Pharming Group (NASDAQ:PHAR) Reaches New 1-Year High – Here’s What Happened

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.46 and last traded at $19.50, with a volume of 3758 shares trading hands. The stock had previously closed at $17.92.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pharming Group in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Pharming Group to a “strong-buy” rating in a research report on Saturday, December 27th. Finally, Zacks Research downgraded Pharming Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Pharming Group Stock Performance

The company has a current ratio of 3.16, a quick ratio of 2.39 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $17.26 and a two-hundred day moving average price of $14.60. The stock has a market capitalization of $1.39 billion and a P/E ratio of -1,970.03.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $98.22 million. Pharming Group had a return on equity of 0.46% and a net margin of 0.30%. On average, equities analysts forecast that Pharming Group N.V. Sponsored ADR will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. EverSource Wealth Advisors LLC bought a new stake in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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.