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Pharming Group (PHAR) Surges 7.2%: Is This an Indication of Further Gains?
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Pharming Group N.V. Sponsored ADR (PHAR - Free Report) shares ended the last trading session 7.2% higher at $10. 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 15.2% loss over the past four weeks.
The sudden soaring of the stock price can be attributed to positive investor expectations regarding the performance of the company's approved products in the upcoming first-quarter 2024 earnings release. Pharming Group currently markets Ruconest and Joenja (leniolisib) for treating acute hereditary angioedema and activated phosphoinositide 3-kinase delta syndrome (APDS), respectively. The company is also looking to expand the eligible patient population for Joenja. Earlier this month, PHAR announced completing patient enrollment in its late-stage study evaluating leniolisib to treat children aged 4 to 11 years with APDS. A regulatory filing seeking the approval of leniolisib for this APDS patient population is expected to begin in 2025.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +105.9%. Revenues are expected to be $68.43 million, up 60.9% 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, 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.
Pharming Group belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Urogen Pharma (URGN - Free Report) , closed the last trading session 3.7% lower at $13.73. Over the past month, URGN has returned -4.6%.
Urogen Pharma's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.93. Compared to the company's year-ago EPS, this represents a change of +28.5%. Urogen Pharma currently boasts a Zacks Rank of #4 (Sell).
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Pharming Group (PHAR) Surges 7.2%: Is This an Indication of Further Gains?
Pharming Group N.V. Sponsored ADR (PHAR - Free Report) shares ended the last trading session 7.2% higher at $10. 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 15.2% loss over the past four weeks.
The sudden soaring of the stock price can be attributed to positive investor expectations regarding the performance of the company's approved products in the upcoming first-quarter 2024 earnings release. Pharming Group currently markets Ruconest and Joenja (leniolisib) for treating acute hereditary angioedema and activated phosphoinositide 3-kinase delta syndrome (APDS), respectively. The company is also looking to expand the eligible patient population for Joenja. Earlier this month, PHAR announced completing patient enrollment in its late-stage study evaluating leniolisib to treat children aged 4 to 11 years with APDS. A regulatory filing seeking the approval of leniolisib for this APDS patient population is expected to begin in 2025.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +105.9%. Revenues are expected to be $68.43 million, up 60.9% 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, 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Urogen Pharma (URGN - Free Report) , closed the last trading session 3.7% lower at $13.73. Over the past month, URGN has returned -4.6%.
Urogen Pharma's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.93. Compared to the company's year-ago EPS, this represents a change of +28.5%. Urogen Pharma currently boasts a Zacks Rank of #4 (Sell).