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

Pharming Group (NASDAQ:PHAR)’s share price was up 6.6% during mid-day trading on Monday . The stock traded as high as $9.88 and last traded at $9.70. Approximately 9,227 shares were traded during trading, an increase of 76% from the average daily volume of 5,245 shares. The stock had previously closed at $9.10.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Oppenheimer lowered their price target on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th. HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group began coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective on the stock.

Pharming Group Price Performance

The firm has a market cap of $715.66 million, a price-to-earnings ratio of -40.58 and a beta of 0.05. 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 company’s fifty day moving average is $8.37 and its two-hundred day moving average is $8.16.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent reporting period. 0.03% of the stock is currently owned by 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.