Pharming Group (NASDAQ:PHAR) Price Target Raised to $41.00

Pharming Group (NASDAQ:PHAR) had its price target hoisted by Canaccord Genuity Group from $38.00 to $41.00 in a research report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also weighed in on PHAR. Wall Street Zen raised shares of Pharming Group to a “hold” rating in a report on Saturday, October 24th. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, September 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of Pharming Group in a research note on Wednesday. Zacks Research upgraded Pharming Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Weiss Ratings upgraded Pharming Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.67.

Pharming Group Stock Up 0.8%

NASDAQ PHAR opened at $12.23 on Thursday. The stock’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $13.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.23 and a quick ratio of 2.31. Pharming Group has a one year low of $9.11 and a one year high of $21.34. The firm has a market cap of $865.64 million, a PE ratio of 38.22 and a beta of -0.05.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. Pharming Group had a net margin of 6.23% and a return on equity of 8.70%. The firm had revenue of $117.60 million during the quarter, compared to analysts’ expectations of $117.60 million. As a group, sell-side analysts forecast that Pharming Group will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. MAC Alpha Capital Management LP bought a new position in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,148,144 shares of the company’s stock, valued at approximately $29,838,000. Pharming Group comprises 6.0% of MAC Alpha Capital Management LP’s holdings, making the stock its 2nd largest holding. MAC Alpha Capital Management LP owned approximately 3.03% of Pharming Group as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is owned by institutional investors and hedge funds.

Pharming Group Company Profile

Pharming Group N.V. is a biopharmaceutical company headquartered in Leiden, the Netherlands. The company develops and commercializes medicines for rare diseases and operates internationally, serving patients and healthcare providers in North America, Europe and other selected markets.

Pharming’s principal product is Ruconest, a recombinant C1 esterase inhibitor used to treat acute attacks of hereditary angioedema, a rare genetic disorder that can cause potentially serious swelling. The company also markets Joenja (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS), a rare primary immunodeficiency.