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Strength Seen in Pharming Group N.V. Sponsored ADR (PHAR): Can Its 5.2% Jump Turn into More Strength?
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Pharming Group N.V. Sponsored ADR (PHAR - Free Report) shares ended the last trading session 5.2% higher at $10.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% loss over the past four weeks.
The surge in the stock price is likely due to positive momentum building around the company's approved products - Ruconest and Joenja for treating acute hereditary angioedema and activated pi3kδ syndrome, respectively. Pharming will report its first quarter 2023 earnings on May 9, 2023.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -120%. Revenues are expected to be $48.15 million, up 3.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Pharming Group N.V. Sponsored ADR, the consensus EPS estimate for the quarter has been revised 50% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PHAR going forward to see if this recent jump can turn into more strength down the road.
Pharming Group N.V. Sponsored ADR is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Sangamo Therapeutics (SGMO - Free Report) , finished the last trading session 0.3% lower at $1.63. SGMO has returned -7.1% over the past month.
For Sangamo, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. This represents a change of -10% from what the company reported a year ago. Sangamo currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Pharming Group N.V. Sponsored ADR (PHAR): Can Its 5.2% Jump Turn into More Strength?
Pharming Group N.V. Sponsored ADR (PHAR - Free Report) shares ended the last trading session 5.2% higher at $10.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% loss over the past four weeks.
The surge in the stock price is likely due to positive momentum building around the company's approved products - Ruconest and Joenja for treating acute hereditary angioedema and activated pi3kδ syndrome, respectively. Pharming will report its first quarter 2023 earnings on May 9, 2023.
This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -120%. Revenues are expected to be $48.15 million, up 3.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Pharming Group N.V. Sponsored ADR, the consensus EPS estimate for the quarter has been revised 50% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PHAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pharming Group N.V. Sponsored ADR is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Sangamo Therapeutics (SGMO - Free Report) , finished the last trading session 0.3% lower at $1.63. SGMO has returned -7.1% over the past month.
For Sangamo, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. This represents a change of -10% from what the company reported a year ago. Sangamo currently has a Zacks Rank of #2 (Buy).