HC Wainwright Reaffirms Buy Rating for Pharming Group (PHAR)

HC Wainwright has reaffirmed its "buy" rating for Pharming Group (NASDAQ:PHAR), according to a report released on Friday. The analysts have set a target price of $37.00 for the company's shares. This target indicates a potential upside of approximately 323.34% from the stock's last closing price.

In addition to the news from HC Wainwright, Jefferies Financial Group also initiated coverage on Pharming Group earlier this month. They set a "buy" rating along with a target price of $14.00 for the stock.

Current Performance of Pharming Group

As of Friday, Pharming Group's stock opened at $8.74. The company has a market capitalization of $594.59 million, a price-to-earnings ratio of -33.62, and a beta of -0.10. Its debt-to-equity ratio stands at 0.41, while the current and quick ratios are reported at 3.53 and 2.76 respectively. Over the past year, the stock has seen a low of $6.65 and a high of $11.80. The stock's 50-day moving average is $9.05, and the 200-day moving average is $8.57.

Pharming Group released its quarterly earnings data on March 13th, reporting earnings per share of $0.05, which fell short of analysts' expectations by $0.02. The company recorded a negative net margin of 6.09% and a negative return on equity of 7.65%. Analysts predict that Pharming Group will have an EPS of -0.20 for the current fiscal year.

Institutional Involvement

Recently, Silverberg Bernstein Capital Management LLC increased its stake in Pharming Group. According to their latest disclosure with the SEC, they raised their holdings by 16.8% during the fourth quarter. They now own 47,997 shares after acquiring an additional 6,887 shares. This firm holds about 0.07% of Pharming Group, valued at $483,000 as per their most recent filing. In total, institutional investors and hedge funds own around 0.03% of the stock.

About Pharming Group

Pharming Group N.V. is a biopharmaceutical company focused on developing and commercializing protein replacement therapies and precision medicine aimed at treating rare diseases. The company's key products include RUCONEST, a recombinant C1 esterase inhibitor for managing acute attacks in patients with hereditary angioedema, and Joenja (leniolisib), an oral small molecule inhibitor for treating activated phosphoinositide 3-kinase delta syndrome.

Pharming, HC Wainwright, buy