Pharming Group (NASDAQ:PHAR) Shares Up 6.9% – Should You Buy?

Pharming Group (NASDAQ:PHAR) shares rose 6.9% during mid-day trading on Tuesday . The company traded as high as $8.55 and last traded at $8.55. Approximately 5,039 shares were traded during trading, an increase of 2% from the average daily volume of 4,939 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Oppenheimer lowered their price target 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. HC Wainwright restated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Stock Down 2.5 %

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm has a market cap of $535.86 million, a PE ratio of -30.38 and a beta of 0.13. The business has a 50-day moving average price of $8.21 and a two-hundred day moving average price of $8.38.

Institutional Inflows and Outflows

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 32.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent filing with the Securities and Exchange Commission. 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.