Pharming Group (NASDAQ:PHAR) Earns “Buy” Rating from HC Wainwright

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $37.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 230.06% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Pharming Group in a research note on Friday, August 7th. Canaccord Genuity Group increased their price target on shares of Pharming Group from $37.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Oppenheimer reiterated an “outperform” rating on shares of Pharming Group in a research note on Thursday, July 30th. Finally, Zacks Research cut Pharming Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. 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, Pharming Group presently has a consensus rating of “Hold” and an average target price of $38.67.

Pharming Group Price Performance

Shares of NASDAQ PHAR opened at $11.21 on Monday. The company has a 50 day simple moving average of $12.07 and a two-hundred day simple moving average of $13.84. Pharming Group has a fifty-two week low of $9.62 and a fifty-two week high of $21.34. The company has a market capitalization of $793.44 million, a price-to-earnings ratio of 93.42 and a beta of 0.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.31 and a current ratio of 3.01.

Pharming Group (NASDAQ:PHAR) last released its earnings results 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%. Analysts expect that Pharming Group will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock worth $510,000 after buying an additional 28,615 shares during the period. Millennium Management LLC bought a new position in Pharming Group in the 4th quarter worth approximately $360,000. SmartHarvest Portfolios LLC bought a new stake in shares of Pharming Group during the fourth quarter valued at approximately $224,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Pharming Group during the second quarter worth $32,000. 0.03% of the stock is currently owned by institutional investors.

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.