Pharming Group (NASDAQ:PHAR) Trading 6.2% Higher – Here’s Why

Pharming Group (NASDAQ:PHAR) shot up 6.2% during mid-day trading on Monday . The stock traded as high as $9.65 and last traded at $9.41. 2,319 shares changed hands during trading, a decline of 61% from the average session volume of 5,913 shares. The stock had previously closed at $8.86.

Analysts Set New Price Targets

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

Pharming Group Stock Performance

The stock’s 50-day moving average price is $9.34 and its 200-day moving average price is $8.50. The company has a market capitalization of $623.84 million, a price-to-earnings ratio of -35.27 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its position in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.