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

Pharming Group (NASDAQ:PHAR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.49, but opened at $9.04. Pharming Group shares last traded at $8.87, with a volume of 902 shares.

Wall Street Analyst Weigh In

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

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The company’s 50 day simple moving average is $8.28 and its 200 day simple moving average is $8.13. The company has a market capitalization of $607.12 million, a PE ratio of -34.42 and a beta of 0.05.

Hedge Funds Weigh In On Pharming Group

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 its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. Institutional investors own 0.03% of the company’s stock.

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.