Pharming Group (NASDAQ:PHAR) Trading 6.6% Higher – Here’s What Happened

Pharming Group (NASDAQ:PHAR) rose 6.6% during trading on Monday . The company traded as high as $9.88 and last traded at $9.70. Approximately 9,227 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 5,245 shares. The stock had previously closed at $9.10.

Analyst Ratings Changes

A number of research firms have issued reports on PHAR. Jefferies Financial Group assumed coverage on shares of Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective on the stock. Oppenheimer reduced their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research report on Tuesday, December 17th.

Pharming Group Stock Performance

The firm has a market capitalization of $658.68 million, a PE ratio of -37.35 and a beta of 0.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The company’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $8.14.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.06% of Pharming Group worth $339,000 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.