Pharming Group (NASDAQ:PHAR) Trading 10.3% Higher – Here’s What Happened

Pharming Group (NASDAQ:PHAR) shares rose 10.3% during trading on Monday . The stock traded as high as $8.41 and last traded at $8.49. Approximately 5,462 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 6,343 shares. The stock had previously closed at $7.69.

Analysts Set New Price Targets

Several brokerages recently weighed in on PHAR. Oppenheimer raised their target price on shares of Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Jefferies Financial Group started coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Thursday, March 20th.

Pharming Group Stock Up 5.5 %

The company’s 50 day simple moving average is $8.65 and its 200-day simple moving average is $8.69. The firm has a market cap of $551.73 million, a P/E ratio of -31.19 and a beta of -0.08. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

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

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 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.