Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume – Here’s Why

Shares of Pharming Group (NASDAQ:PHAR) saw strong trading volume on Wednesday . 7,607 shares changed 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.

Analyst Upgrades and Downgrades

PHAR has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group initiated coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, December 17th.

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 firm has a 50 day moving average of $9.04 and a two-hundred day moving average of $8.43. The stock has a market cap of $610.13 million, a P/E ratio of -34.60 and a beta of -0.08.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its position in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to 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 purchasing 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 reporting period. 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.