Pharming Group (NASDAQ:PHAR) Shares Gap Down – Should You Sell?

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Wednesday . The stock had previously closed at $9.25, but opened at $8.95. Pharming Group shares last traded at $8.95, with a volume of 1,342 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Tuesday, December 17th.

Pharming Group Price Performance

The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The company has a 50 day simple moving average of $9.21 and a 200 day simple moving average of $8.56. The stock has a market cap of $573.16 million, a P/E ratio of -32.40 and a beta of -0.10.

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 shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F 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 0.07% of Pharming Group worth $483,000 as of its most recent filing with the SEC. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.