Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s Why

Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Thursday . The stock had previously closed at $7.74, but opened at $8.69. Pharming Group shares last traded at $8.67, with a volume of 8,487 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on PHAR shares. Jefferies Financial Group started coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, December 17th.

Pharming Group Stock Performance

The business’s 50-day moving average price is $9.05 and its 200-day moving average price is $8.57. The stock has a market cap of $623.16 million, a PE ratio of -35.23 and a beta of -0.10. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

Pharming Group (NASDAQ:PHAR) last released its earnings results on Thursday, March 13th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. As a group, equities research analysts expect that Pharming Group will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 Securities & Exchange Commission. 0.03% of the stock is owned by institutional investors.

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.