Back to top

Image: Bigstock

Pharming Group N.V. Sponsored ADR (PHAR) Soars 14.7%: Is Further Upside Left in the Stock?

Read MoreHide Full Article

Pharming Group N.V. Sponsored ADR (PHAR - Free Report) shares rallied 14.7% in the last trading session to close at $15.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9% gain over the past four weeks.

The sudden soaring of the stock price is likely due to the encouraging performance of the company's approved products - Ruconest and Joenja for treating acute hereditary angioedema and activated pi3kδ syndrome, respectively. Last month, Pharming announced its second quarter results, wherein, both products showed strong uptake, a trend expected to continue into the quarters ahead. 

This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $61.67 million, up 13.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Pharming Group N.V. Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 part of the Zacks Medical - Biomedical and Genetics industry. Curis (CRIS - Free Report) , another stock in the same industry, closed the last trading session 4% higher at $0.45. CRIS has returned -25.5% in the past month.

For Curis, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +14.3% from what the company reported a year ago. Curis currently has a Zacks Rank of #3 (Hold).

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Curis, Inc. (CRIS) - free report >>

Pharming Group N.V. Sponsored ADR (PHAR) - free report >>

Published in