Pharming Group (NASDAQ:PHAR) Shares Up 4.6%

Pharming Group (NASDAQ:PHAR) traded up 4.6% on Monday . The company traded as high as $7.58 and last traded at $7.58. 3,332 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 4,217 shares. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research note on Thursday, August 1st.

Pharming Group Stock Performance

The business’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $9.91. The stock has a market cap of $532.02 million, a price-to-earnings ratio of -49.38 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last announced its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative return on equity of 5.75% and a negative net margin of 4.65%. The business had revenue of $74.09 million for the quarter, compared to analysts’ expectations of $71.95 million. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, analysts forecast that Pharming Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in shares of Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by hedge funds and other 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.