Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume – Still a Buy?

Pharming Group (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . Approximately 21,295 shares were traded during mid-day trading, an increase of 418% from the previous session’s volume of 4,108 shares.The stock last traded at $9.53 and had previously closed at $10.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PHAR shares. Jefferies Financial Group initiated coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a report on Tuesday, December 17th. Finally, Oppenheimer reduced their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th.

Pharming Group Stock Up 2.2 %

The company has a fifty day moving average price of $8.98 and a 200-day moving average price of $8.42. The stock has a market capitalization of $630.14 million, a P/E ratio of -35.73 and a beta of -0.08. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.