Pharming Group (NASDAQ:PHAR) Shares Gap Up – What’s Next?

Pharming Group (NASDAQ:PHAR) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.52, but opened at $9.09. Pharming Group shares last traded at $9.24, with a volume of 1,705 shares trading hands.

Wall Street Analysts Forecast Growth

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

Pharming Group Price Performance

The company has a 50-day moving average of $9.34 and a 200-day moving average of $8.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The firm has a market capitalization of $608.87 million, a price-to-earnings ratio of -34.42 and a beta of -0.10.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 about 0.07% of Pharming Group worth $483,000 as of its most recent filing with the SEC. 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.