Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume

Shares of Pharming Group (NASDAQ:PHAR) saw unusually-high trading volume on Wednesday . Approximately 10,737 shares were traded during mid-day trading, an increase of 148% from the previous session’s volume of 4,336 shares.The stock last traded at $8.18 and had previously closed at $7.82.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday, August 1st.

Pharming Group Stock Up 4.6 %

The firm has a market cap of $550.87 million, a P/E ratio of -48.88 and a beta of 0.15. The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The company’s 50 day simple moving average is $8.14 and its 200-day simple moving average is $9.60.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. The company had revenue of $74.09 million during the quarter, compared to analysts’ expectations of $71.95 million. During the same period last year, the firm posted $0.02 EPS. Research analysts forecast that Pharming Group will post -0.03 earnings per share 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 boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent reporting period. 0.03% of the stock is currently 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.