Pharming Group (NASDAQ:PHAR) Shares Gap Up After Better-Than-Expected Earnings

Shares of Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $9.00, but opened at $10.15. Pharming Group shares last traded at $10.22, with a volume of 3,575 shares changing hands.

The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.03. The business had revenue of $79.09 million for the quarter, compared to analysts’ expectations of $67.74 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PHAR shares. HC Wainwright restated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Thursday, March 20th. Oppenheimer lifted their price objective on shares of Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Pharming Group Price Performance

The stock’s 50 day moving average price is $8.50 and its two-hundred day moving average price is $8.71. The firm has a market capitalization of $682.35 million, a price-to-earnings ratio of -38.58 and a beta of -0.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

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.