PHAR Should I Buy
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Pharming Group NV (PHAR) is not a good buy at the moment for a beginner investor with a long-term strategy. The stock has faced significant negative catalysts, including an FDA rejection, a sharp price drop, and ongoing investigations into potential securities fraud. Technical indicators also show no clear bullish signals, and there are no proprietary trading signals suggesting a buy. Given the negative sentiment, lack of financial data, and absence of positive catalysts, it is advisable to avoid this stock for now.
The MACD is below 0 and negatively contracting, indicating bearish momentum. The RSI is neutral at 20.802, and moving averages are converging, showing no clear trend. The stock is trading near its S1 support level of 15.468, with resistance levels at 17.645 and 19.822. Overall, the technical indicators suggest a bearish or neutral trend.
The Guggenheim analyst raised the price target for Pharvaris based on positive trial results for deucrictibant, with increased global peak sales estimates.
The FDA issued a Complete Response Letter requesting additional pediatric pharmacokinetic data for Joenja®, leading to a 17.07% drop in the stock price. Pomerantz LLP is investigating potential securities fraud claims against Pharming and its executives, which could harm investor confidence.
No financial data available for analysis.
Guggenheim analyst Debjit Chattopadhyay maintains a Buy rating and raised the price target to $39 from $32, citing positive trial results for deucrictibant. However, this is overshadowed by the recent negative news and sentiment.
