Pharming Group (NASDAQ:PHAR) Posts Earnings Results

Pharming Group (NASDAQ:PHAR) issued its earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, Zacks reports. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.75%. The company had revenue of $74.09 million for the quarter, compared to analysts’ expectations of $71.95 million. During the same period in the prior year, the firm posted $0.02 earnings per share. Pharming Group updated its FY 2024 guidance to EPS.

Pharming Group Stock Down 5.0 %

NASDAQ:PHAR traded down $0.38 during mid-day trading on Friday, reaching $7.25. The company’s stock had a trading volume of 16,933 shares, compared to its average volume of 6,303. Pharming Group has a 1 year low of $6.65 and a 1 year high of $16.71. The stock has a fifty day moving average of $8.39 and a 200-day moving average of $10.02. The firm has a market capitalization of $491.77 million, a PE ratio of -45.31 and a beta of 0.15.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Thursday.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.