Pharming Group (NASDAQ:PHAR) Sees Large Volume Increase – Still a Buy?

Pharming Group (NASDAQ:PHAR) shares saw an uptick in trading volume on Thursday . 5,262 shares traded hands during trading, an increase of 9% from the previous session’s volume of 4,828 shares.The stock last traded at $8.72 and had previously closed at $8.65.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research report on Thursday.

Pharming Group Stock Down 4.9 %

The firm’s 50-day simple moving average is $7.86 and its 200-day simple moving average is $8.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39. The company has a market capitalization of $562.32 million, a price-to-earnings ratio of -52.19 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $74.09 million for the quarter, compared to analyst estimates of $71.95 million. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. During the same period last year, the business earned $0.02 earnings per share. Sell-side analysts forecast that Pharming Group will post -0.15 earnings per share for the current year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,435 shares of the company’s stock after purchasing 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 SEC filing. 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.