Pharming Group (NASDAQ:PHAR) Sees Large Growth in Short Interest

Pharming Group (NASDAQ:PHAR) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 9,100 shares, an increase of 122.0% from the September 30th total of 4,100 shares. Based on an average daily volume of 7,500 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.03% of the company’s stock.

Pharming Group Stock Up 4.8 %

Shares of Pharming Group stock traded up $0.40 on Friday, hitting $8.70. The company had a trading volume of 6,324 shares, compared to its average volume of 4,887. The stock has a market capitalization of $590.12 million, a price-to-earnings ratio of -45.79 and a beta of 0.15. Pharming Group has a 1 year low of $6.65 and a 1 year high of $13.20. The stock has a 50 day moving average of $8.05 and a 200-day moving average of $8.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. The company had revenue of $74.09 million during the quarter, compared to analysts’ expectations of $71.95 million. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. During the same period last year, the company earned $0.02 earnings per share. As a group, sell-side analysts forecast that Pharming Group will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Thursday.

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.