Pharming Group (NASDAQ:PHAR) Trading Down 2% – What’s Next?

Pharming Group (NASDAQ:PHAR)’s stock price dropped 2% during mid-day trading on Monday . The stock traded as low as $8.58 and last traded at $8.75. Approximately 5,512 shares were traded during trading, a decline of 11% from the average daily volume of 6,201 shares. The stock had previously closed at $8.93.

Wall Street Analysts Forecast Growth

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

Pharming Group Stock Down 0.9 %

The business’s 50 day moving average is $8.90 and its 200-day moving average is $8.63. The stock has a market cap of $595.95 million, a price-to-earnings ratio of -33.69 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $92.70 million during the quarter, compared to analyst estimates of $76.67 million. On average, sell-side analysts predict that Pharming Group will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.