Pharming Group (NASDAQ:PHAR) Shares Up 6.9% – What’s Next?

Pharming Group (NASDAQ:PHAR)’s share price traded up 6.9% during mid-day trading on Tuesday . The stock traded as high as $8.55 and last traded at $8.55. 5,039 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 4,939 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer cut their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Price Performance

The stock has a market cap of $542.68 million, a P/E ratio of -29.88 and a beta of 0.13. The company’s 50 day moving average price is $8.18 and its two-hundred day moving average price is $8.40. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to its most recent disclosure with the SEC. The fund 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. 0.03% of the stock is currently 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.