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

Pharming Group (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . Approximately 6,598 shares changed hands during trading, an increase of 7% from the previous session’s volume of 6,182 shares.The stock last traded at $8.80 and had previously closed at $8.80.

Analysts Set New Price Targets

PHAR has been the subject of several research analyst reports. Jefferies Financial Group started coverage on Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Friday, March 14th. Finally, Oppenheimer lifted their price target on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

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 stock has a market capitalization of $597.99 million, a P/E ratio of -33.81 and a beta of -0.10. The business has a 50-day moving average price of $8.95 and a 200 day moving average price of $8.60.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, March 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The company had revenue of $92.70 million during the quarter, compared to the consensus estimate of $76.67 million. As a group, sell-side analysts forecast that Pharming Group will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 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.