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

Pharming Group (NASDAQ:PHAR) saw unusually-strong trading volume on Wednesday . Approximately 7,607 shares traded hands during trading, an increase of 42% from the previous session’s volume of 5,358 shares.The stock last traded at $8.86 and had previously closed at $9.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Oppenheimer reduced their target price on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group began coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 target price on the stock.

Pharming Group Stock Performance

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 stock’s 50 day moving average price is $9.09 and its 200-day moving average price is $8.44.

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 75.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 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.