Pharming Group (NASDAQ:PHAR) Shares Up 4.6%

Shares of Pharming Group (NASDAQ:PHAR) were up 4.6% during trading on Monday . The stock traded as high as $7.58 and last traded at $7.58. Approximately 3,332 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 4,217 shares. The stock had previously closed at $7.25.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research report on Thursday.

Pharming Group Price Performance

The firm’s 50-day simple moving average is $8.35 and its two-hundred day simple moving average is $9.95. The company has a market capitalization of $510.47 million, a price-to-earnings ratio of -47.38 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative return on equity of 5.75% and a negative net margin of 4.65%. The company had revenue of $74.09 million during the quarter, compared to analyst estimates of $71.95 million. During the same period in the prior year, the business posted $0.02 earnings per share. On average, analysts expect that Pharming Group will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent filing with the Securities and Exchange Commission. 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.