Pharming Group (NASDAQ:PHAR) Shares Up 6.3% – Here’s Why

Pharming Group (NASDAQ:PHAR)’s share price was up 6.3% during trading on Tuesday . The stock traded as high as $8.26 and last traded at $8.47. 8,763 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 6,025 shares. The stock had previously closed at $7.96.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHAR. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research note on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company.

Pharming Group Stock Performance

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $9.13 and a 200 day moving average price of $8.57. The stock has a market cap of $547.65 million, a PE ratio of -30.96 and a beta of -0.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after buying 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 hedge funds and other 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.