HC Wainwright Reiterates “Buy” Rating for Pharming Group (NASDAQ:PHAR)

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $37.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 317.61% from the company’s current price.

Several other research firms also recently weighed in on PHAR. Jefferies Financial Group assumed coverage on Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 target price on the stock. Oppenheimer lifted their target price on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

Pharming Group Stock Performance

Shares of PHAR stock traded up $0.06 on Thursday, reaching $8.86. The stock had a trading volume of 1,131 shares, compared to its average volume of 6,178. The stock has a market cap of $602.75 million, a P/E ratio of -34.08 and a beta of -0.10. Pharming Group has a 1 year low of $6.65 and a 1 year high of $11.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The company has a 50 day simple moving average of $8.93 and a 200 day simple moving average of $8.60.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $92.70 million for the quarter, compared to analysts’ expectations of $76.67 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. Equities research analysts expect that Pharming Group will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is owned by institutional investors and hedge funds.

About Pharming Group

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.