Pharming Group (NASDAQ:PHAR) Sees Strong Trading Volume on Earnings Beat

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 8,327 shares traded hands during trading, an increase of 57% from the previous session’s volume of 5,289 shares.The stock last traded at $10.60 and had previously closed at $11.11.

The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. Pharming Group had a negative return on equity of 3.38% and a negative net margin of 2.19%. The firm had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $70.36 million.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,147 shares of the company’s stock after purchasing an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.08% of Pharming Group worth $557,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Pharming Group Trading Down 1.4%

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.76 and a quick ratio of 2.00. The stock’s 50-day moving average is $10.70 and its two-hundred day moving average is $9.47. The company has a market cap of $750.87 million, a P/E ratio of -84.31 and a beta of 0.02.

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.