Pharming Group (NASDAQ:PHAR) Sees Large Volume Increase – Here’s Why

Pharming Group (NASDAQ:PHAR) shares saw unusually-strong trading volume on Wednesday . Approximately 6,553 shares were traded during trading, an increase of 35% from the previous session’s volume of 4,843 shares.The stock last traded at $8.72 and had previously closed at $8.20.

Wall Street Analysts Forecast Growth

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

Pharming Group Stock Up 1.0 %

The business has a fifty day moving average of $9.15 and a 200 day moving average of $8.43. The firm has a market cap of $578.26 million, a P/E ratio of -32.69 and a beta of -0.10. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.