Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.96, but opened at $8.38. Pharming Group shares last traded at $8.38, with a volume of 364 shares trading hands.

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 note on Thursday, October 10th.

Pharming Group Stock Performance

The company has a 50-day moving average of $8.02 and a 200 day moving average of $8.57. The firm has a market capitalization of $546.83 million, a PE ratio of -52.38 and a beta of 0.15. The company has a quick ratio of 2.65, a current ratio of 3.39 and a debt-to-equity ratio of 0.40.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings data 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 company had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. During the same quarter last year, the company posted $0.02 earnings per share. Equities research analysts predict that Pharming Group will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,110 shares of the company’s stock after purchasing 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 Securities & Exchange Commission. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.