Pharming Group (NASDAQ:PHAR) Trading Up 5.8% – What’s Next?

Shares of Pharming Group (NASDAQ:PHAR) were up 5.8% during trading on Wednesday . The company traded as high as $7.95 and last traded at $7.88. Approximately 3,625 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 5,057 shares. The stock had previously closed at $7.45.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Oppenheimer cut their price target on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The business’s 50-day simple moving average is $8.27 and its two-hundred day simple moving average is $8.26.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its stake in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 23,435 shares of the company’s stock after buying 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 filing with the SEC. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.