Pharming Group (NASDAQ:PHAR) Shares Up 6.2% – Here’s What Happened

Pharming Group (NASDAQ:PHAR)’s share price shot up 6.2% on Monday . The stock traded as high as $9.65 and last traded at $9.41. 2,319 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 5,913 shares. The stock had previously closed at $8.86.

Analyst Upgrades and Downgrades

PHAR has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, December 17th. Jefferies Financial Group initiated 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.

Pharming Group Stock Up 0.3 %

The firm’s 50-day moving average price is $9.36 and its two-hundred day moving average price is $8.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The firm has a market cap of $622.48 million, a PE ratio of -35.19 and a beta of -0.10.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the period. 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 currently owned by institutional investors and hedge funds.

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.