Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s Why

Shares of Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Tuesday . The stock had previously closed at $8.20, but opened at $8.56. Pharming Group shares last traded at $8.69, with a volume of 3,244 shares changing hands.

Wall Street Analysts Forecast Growth

PHAR has been the topic of a number of research reports. Jefferies Financial Group began coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price on the stock. Oppenheimer decreased their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. 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 1.0 %

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 firm has a 50-day moving average price of $9.16 and a two-hundred day moving average price of $8.43.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is 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.