Pharming Group's Buy Rating Reiterated by HC Wainwright

Pharming Group (NASDAQ:PHAR) saw its "buy" rating confirmed by HC Wainwright in a recent research note published on Friday. The analysts set a target price of $37.00 for the company’s shares, suggesting significant growth potential. This price target indicates an impressive upside of approximately 323.34% from the stock's closing price prior to the announcement.

Recently, Jefferies Financial Group also began its coverage of Pharming Group, establishing a "buy" rating with a lower target of $14.00 per share. This indicates a growing interest among analysts regarding Pharming Group’s market performance.

Current Stock Performance

On Friday, shares of PHAR opened at $8.74. Pharming Group's market cap stands at about $594.59 million. The company has a negative PE ratio of -33.62, alongside a beta of -0.10, indicating less volatility compared to the broader market. Also, its debt-to-equity ratio is 0.41, with a current ratio of 3.53 and a quick ratio of 2.76. Over the past year, the stock reached a low of $6.65 and a high of $11.80, reflecting some fluctuation in its market value. The stock's current 50-day moving average is $9.05, while the 200-day moving average is $8.57.

Pharming Group released its quarterly earnings data recently, showing earnings of $0.05 per share for the quarter. This result was below the expected consensus estimate of $0.07 per share. The company reported a negative net margin of 6.09% and a negative return on equity of 7.65%. Analysts predict the company will report -0.2 EPS for the current fiscal year.

Institutional Stake Changes

In the fourth quarter, Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group by 16.8%. According to their most recent disclosure, they now own 47,997 shares after acquiring an additional 6,887 shares during that quarter. The firm’s total holdings account for 0.07% of Pharming Group's stock value, estimated at $483,000.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company that specializes in developing and commercializing protein replacement therapies and precision medicines aimed at treating rare diseases. Their key products include RUCONEST, a recombinant C1 esterase inhibitor designed for treating acute attacks in adult and adolescent patients suffering from hereditary angioedema, and Joenja (leniolisib), a small molecule PI3K delta inhibitor for the management of activated phosphoinositide 3-kinase delta syndrome.

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