Pharming Group (NASDAQ:PHAR) Trading 6.1% Higher – Here’s Why

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

Analyst Ratings Changes

Several research analysts have recently issued reports on PHAR shares. Jefferies Financial Group began coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Tuesday, December 17th. Finally, Oppenheimer dropped 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.

Pharming Group Price Performance

The firm has a market capitalization of $680.39 million, a P/E ratio of -38.58 and a beta of 0.05. The business’s fifty day moving average is $8.53 and its 200 day moving average is $8.24. 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 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 shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,110 shares of the company’s stock after purchasing 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 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.