Pharming Group (NASDAQ:PHAR) Stock Price Up 6.6% – Still a Buy?

Shares of Pharming Group (NASDAQ:PHAR) shot up 6.6% on Monday . The stock traded as high as $9.88 and last traded at $9.70. 9,227 shares changed hands during trading, an increase of 76% from the average session volume of 5,245 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PHAR. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Tuesday, December 17th. Jefferies Financial Group assumed coverage on Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Oppenheimer reduced 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 Trading Up 1.2 %

The firm has a market cap of $715.66 million, a P/E ratio of -40.58 and a beta of 0.05. The firm has a fifty day moving average of $8.37 and a 200-day moving average of $8.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Hedge Funds Weigh In On 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 75.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.