Pharming Group (NASDAQ:PHAR) Shares Up 5.4% – Here’s Why

Shares of Pharming Group (NASDAQ:PHAR) were up 5.4% on Tuesday . The stock traded as high as $9.25 and last traded at $9.59. Approximately 2,252 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 5,358 shares. The stock had previously closed at $9.10.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PHAR shares. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Tuesday, December 17th. Jefferies Financial Group initiated 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 on the stock. Finally, Oppenheimer decreased their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th.

Pharming Group Price Performance

The business has a 50-day moving average of $9.07 and a 200 day moving average of $8.43. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings 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 and Exchange Commission (SEC). The firm owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.