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

Pharming Group (NASDAQ:PHAR)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $37.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 343.11% from the company’s current price.

Pharming Group Stock Down 4.9 %

PHAR stock opened at $8.35 on Thursday. The business’s fifty day moving average price is $7.86 and its two-hundred day moving average price is $8.70. The stock has a market capitalization of $562.32 million, a price-to-earnings ratio of -52.19 and a beta of 0.15. Pharming Group has a fifty-two week low of $6.65 and a fifty-two week high of $13.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 2.65.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The company had revenue of $74.09 million during the quarter, compared to analyst estimates of $71.95 million. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Pharming Group will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 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.