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

Pharming Group (NASDAQ:PHAR) shares gapped down prior to trading on Friday . The stock had previously closed at $10.60, but opened at $10.01. Pharming Group shares last traded at $9.93, with a volume of 1,009 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHAR. Jefferies Financial Group began coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Tuesday, December 17th. Finally, Oppenheimer reduced their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th.

Pharming Group Stock Down 5.7 %

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 $8.45 and a 200 day simple moving average of $8.20. The company has a market cap of $678.35 million, a P/E ratio of -38.46 and a beta of 0.05.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its stake in Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 at the end of the most recent reporting period. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.