Pharming Group (NASDAQ:PHAR) Stock Price Up 5.8% – Should You Buy?

Pharming Group (NASDAQ:PHAR) shot up 5.8% on Wednesday . The stock traded as high as $7.95 and last traded at $7.88. 3,625 shares were traded during trading, a decline of 28% from the average session volume of 5,057 shares. The stock had previously closed at $7.45.

Analyst Upgrades and Downgrades

PHAR has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, October 24th. Oppenheimer cut their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, October 28th.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The company’s fifty day moving average is $8.27 and its 200 day moving average is $8.26.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.03% of the company’s stock.

About Pharming Group

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.