Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Pharming Group (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . Approximately 6,553 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 4,843 shares.The stock last traded at $8.72 and had previously closed at $8.20.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PHAR. Jefferies Financial Group started coverage on 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 target price on shares of Pharming Group in a report on Tuesday, December 17th. Finally, Oppenheimer lowered their price target on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th.

Pharming Group Price Performance

The company’s 50 day moving average is $9.15 and its 200 day moving average is $8.43. The firm has a market capitalization of $578.26 million, a price-to-earnings ratio of -32.69 and a beta of -0.10. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is owned by institutional investors.

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.