Pharming Group (NASDAQ:PHAR) Trading 6.6% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of analysts have commented on PHAR shares. Oppenheimer cut their price target 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. Jefferies Financial Group started coverage on Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a report on Tuesday, December 17th.

Pharming Group Stock Up 6.7 %

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 firm’s fifty day moving average price is $8.30 and its two-hundred day moving average price is $8.14. The stock has a market cap of $658.68 million, a price-to-earnings ratio of -37.35 and a beta of 0.05.

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 holdings in Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 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 hedge funds and other institutional investors.

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.