Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume – Here’s What Happened

Shares of Pharming Group (NASDAQ:PHAR) saw unusually-strong trading volume on Wednesday . Approximately 21,295 shares were traded during mid-day trading, an increase of 418% from the previous session’s volume of 4,108 shares.The stock last traded at $9.53 and had previously closed at $10.01.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 target price for the company. Oppenheimer reduced their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Finally, HC Wainwright reissued 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 Trading Up 2.2 %

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $630.14 million, a PE ratio of -35.73 and a beta of -0.08. The stock’s fifty day simple moving average is $8.98 and its 200 day simple moving average is $8.42.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its stake in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent Form 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 quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 as of its most recent SEC filing. Institutional investors own 0.03% of the company’s stock.

About Pharming Group

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.