Pharming Group (NASDAQ:PHAR) Trading 6.9% Higher – Time to Buy?

Pharming Group (NASDAQ:PHAR) shot up 6.9% during mid-day trading on Tuesday . The stock traded as high as $8.55 and last traded at $8.55. 5,039 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 4,939 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PHAR. HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Thursday, October 24th. Oppenheimer lowered their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 28th.

Pharming Group Stock Down 2.5 %

The stock has a market cap of $535.86 million, a P/E ratio of -30.38 and a beta of 0.13. The stock’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $8.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to its most recent 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 quarter. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 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.