Pharming Group (NASDAQ:PHAR) Shares Up 6.6% – Time to Buy?

Shares of Pharming Group (NASDAQ:PHAR) rose 6.6% on Monday . The stock traded as high as $9.10 and last traded at $9.25. Approximately 100 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 5,540 shares. The stock had previously closed at $8.68.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PHAR shares. Jefferies Financial Group initiated coverage on shares of Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research note on Tuesday, December 17th.

Pharming Group Price 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 fifty day simple moving average of $9.35 and a two-hundred day simple moving average of $8.54. The firm has a market cap of $614.32 million, a PE ratio of -34.73 and a beta of -0.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F 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 quarter. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.