Pharming Group (NASDAQ:PHAR) Trading 5.4% Higher – Should You Buy?

Pharming Group (NASDAQ:PHAR) was up 5.4% during mid-day trading on Tuesday . The company traded as high as $9.25 and last traded at $9.59. Approximately 2,252 shares were traded during trading, a decline of 58% from the average daily volume of 5,358 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

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

Pharming Group Price Performance

The stock has a 50 day moving average price of $9.02 and a 200-day moving average price of $8.43. 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 stock has a market capitalization of $645.67 million, a price-to-earnings ratio of -36.61 and a beta of -0.08.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.