Pharming Group (NASDAQ:PHAR) Trading 4.3% Higher – Time to Buy?

Pharming Group (NASDAQ:PHAR) shares shot up 4.3% on Wednesday . The stock traded as high as $8.51 and last traded at $8.51. 1,346 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 6,344 shares. The stock had previously closed at $8.16.

Analyst Ratings Changes

Several brokerages have recently issued reports on PHAR. HC Wainwright restated a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Thursday, March 20th. Oppenheimer boosted their price objective on shares of Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 14th.

Pharming Group Price Performance

The stock has a market cap of $545.61 million, a price-to-earnings ratio of -30.85 and a beta of -0.08. 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 stock’s 50 day simple moving average is $8.53 and its two-hundred day simple moving average is $8.69.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. The business had revenue of $92.70 million for the quarter, compared to analyst estimates of $76.67 million. On average, analysts forecast that Pharming Group will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. Institutional investors own 0.03% of the company’s stock.

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.