Pharming Group (NASDAQ:PHAR) Sees Unusually-High Trading Volume – Time to Buy?

Pharming Group (NASDAQ:PHAR) saw unusually-strong trading volume on Friday . Approximately 2,626 shares were traded during mid-day trading, a decline of 46% from the previous session’s volume of 4,869 shares.The stock last traded at $8.72 and had previously closed at $8.30.

Wall Street Analyst Weigh In

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

Pharming Group Stock Up 4.8 %

The stock has a market cap of $590.12 million, a price-to-earnings ratio of -45.79 and a beta of 0.15. The firm’s 50-day moving average is $8.05 and its 200 day moving average is $8.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 2.65.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. The firm had revenue of $74.09 million during the quarter, compared to analysts’ expectations of $71.95 million. During the same period last year, the business posted $0.02 earnings per share. Sell-side analysts anticipate that Pharming Group will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised 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 & Exchange Commission. The institutional investor 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 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.