Pharming Group (NASDAQ:PHAR) Trading 6.1% Higher – What’s Next?

Pharming Group (NASDAQ:PHAR)’s share price traded up 6.1% on Tuesday . The stock traded as high as $10.29 and last traded at $10.29. 2,621 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 5,281 shares. The stock had previously closed at $9.70.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PHAR shares. Jefferies Financial Group assumed coverage on Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 price objective for the company. Oppenheimer decreased their price target on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Tuesday, December 17th.

Pharming Group Stock Up 6.1 %

The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $8.49 and a 200 day simple moving average of $8.21. The firm has a market capitalization of $698.02 million, a PE ratio of -39.58 and a beta of 0.05.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after buying an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.03% of the company’s stock.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.