Pharming Group (NASDAQ:PHAR) Shares Up 13.9% on Strong Earnings

Shares of Pharming Group (NASDAQ:PHAR) were up 13.9% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $10.28 and last traded at $10.25. Approximately 7,437 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 6,449 shares. The stock had previously closed at $9.00.

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 analysts have weighed in 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 raised their target price on shares of Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, March 14th.

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 position in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing 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 hedge funds and other institutional investors.

Pharming Group Trading Up 0.2 %

The stock has a fifty day moving average of $8.50 and a two-hundred day moving average of $8.71. The company has a market capitalization of $682.35 million, a PE ratio of -38.58 and a beta of -0.08. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

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.