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

Pharming Group (NASDAQ:PHAR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $10.01, but opened at $9.48. Pharming Group shares last traded at $9.47, with a volume of 1,070 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PHAR shares. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a report on Tuesday, December 17th. Oppenheimer reduced their price objective 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. Finally, 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.

Pharming Group Stock Performance

The stock has a market cap of $630.19 million, a price-to-earnings ratio of -35.73 and a beta of -0.08. 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 firm has a fifty day simple moving average of $8.95 and a 200-day simple moving average of $8.41.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its position in Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned about 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.

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.