Pharming Group (NASDAQ:PHAR) Sees Large Volume Increase – Here’s What Happened

Pharming Group (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . Approximately 6,598 shares traded 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.

Analyst Upgrades and Downgrades

PHAR has been the subject of several analyst reports. Jefferies Financial Group started 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. Oppenheimer upped their price target on Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Friday, March 14th.

Pharming Group Stock Down 0.1 %

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

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

Institutional Investors Weigh In On Pharming Group

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% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 0.03% of the stock is owned by institutional investors and hedge funds.

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.