Pharming Group (NASDAQ:PHAR) Reaches New 52-Week High – Should You Buy?

Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.34 and last traded at $21.18, with a volume of 29187 shares changing hands. The stock had previously closed at $20.40.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PHAR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pharming Group in a report on Monday, December 22nd. Zacks Research downgraded 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 report on Saturday, December 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Pharming Group Stock Performance

The company has a market capitalization of $1.45 billion and a PE ratio of -2,066.93. The firm has a 50-day moving average of $17.73 and a two-hundred day moving average of $14.99. The company has a quick ratio of 2.39, a current ratio of 3.16 and a debt-to-equity ratio of 0.35.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pharming Group stock. EverSource Wealth Advisors LLC bought a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,979 shares of the company’s stock, valued at approximately $32,000. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.