Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume

Pharming Group (NASDAQ:PHAR) shares saw unusually-high trading volume on Wednesday . Approximately 11,273 shares changed hands during trading, an increase of 165% from the previous session’s volume of 4,248 shares.The stock last traded at $8.10 and had previously closed at $8.09.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, August 1st.

Pharming Group Price Performance

The stock’s 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $9.92. The stock has a market cap of $507.77 million, a price-to-earnings ratio of -47.13 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.75%. The firm had revenue of $74.09 million during the quarter, compared to analyst estimates of $71.95 million. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, analysts predict that Pharming Group will post -0.03 earnings per share for the current year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.