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

Pharming Group (NASDAQ:PHAR - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $37.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 322.62% from the company's current price.

A number of other equities research analysts also recently commented on the company. Oppenheimer increased their price objective on Pharming Group from $30.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Jefferies Financial Group initiated 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.

Pharming Group Price Performance

PHAR stock traded down $0.09 during trading hours on Thursday, hitting $8.76. 2,344 shares of the stock traded hands, compared to its average volume of 6,209. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The stock has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $8.64. Pharming Group has a one year low of $6.65 and a one year high of $11.30. The company has a market cap of $595.61 million, a P/E ratio of -33.67 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The business had revenue of $92.70 million during the quarter, compared to analyst estimates of $76.67 million. Equities analysts forecast that Pharming Group will post -0.2 earnings per share for the current year.

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Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in Pharming Group (NASDAQ:PHAR - Free Report) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,997 shares of the company's stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.03% of the company's stock.

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.