Pharming Group’s (PHAR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Pharming Group (NASDAQ:PHAR) in a report released on Thursday, Benzinga reports. HC Wainwright currently has a $37.00 price target on the stock.

Pharming Group Price Performance

Shares of PHAR stock traded up $0.42 during trading hours on Thursday, hitting $8.72. 2,626 shares of the company’s stock were exchanged, compared to its average volume of 4,869. The company has a market capitalization of $591.48 million, a PE ratio of -45.89 and a beta of 0.15. Pharming Group has a 12-month low of $6.65 and a 12-month high of $13.20. The business’s 50 day simple moving average is $8.03 and its 200-day simple moving average is $8.56. The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. The business had revenue of $74.09 million for the quarter, compared to the consensus estimate of $71.95 million. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. During the same period in the prior year, the business posted $0.02 EPS. On average, equities research analysts anticipate that Pharming Group will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.