Short Interest in Pharming Group (NASDAQ:PHAR) Decreases By 20.4%

Pharming Group (NASDAQ:PHAR) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 20,300 shares, a decrease of 20.4% from the November 15th total of 25,500 shares. Based on an average daily trading volume, of 6,900 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PHAR shares. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Wednesday, December 11th. Oppenheimer decreased their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, Jefferies Financial Group assumed coverage on Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 target price on the stock.

Pharming Group Stock Down 1.0 %

PHAR stock traded down $0.09 during midday trading on Monday, hitting $8.89. 7,306 shares of the stock traded hands, compared to its average volume of 5,228. Pharming Group has a 1-year low of $6.65 and a 1-year high of $13.20. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.13.

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.