Pharming Group (NASDAQ:PHAR) Trading Down 7.8% – Here’s What Happened

Pharming Group (NASDAQ:PHAR)’s share price fell 7.8% during trading on Monday . The stock traded as low as $7.95 and last traded at $8.08. 1,692 shares traded hands during trading, a decline of 68% from the average session volume of 5,335 shares. The stock had previously closed at $8.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PHAR shares. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Oppenheimer reduced their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 28th.

Pharming Group Price Performance

The stock has a fifty day moving average of $9.15 and a 200 day moving average of $8.43. The stock has a market cap of $578.26 million, a price-to-earnings ratio of -32.69 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.