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

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.62, but opened at $7.97. Pharming Group shares last traded at $7.93, with a volume of 210 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th. Jefferies Financial Group started coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Oppenheimer raised their price target on Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th.

Pharming Group Stock Performance

The stock’s 50 day simple moving average is $8.74 and its two-hundred day simple moving average is $8.69. The company has a market cap of $538.40 million, a PE ratio of -30.33 and a beta of -0.10. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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%. The firm had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $76.67 million. As a group, research analysts anticipate that Pharming Group will post -0.2 earnings per share for the current year.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.