Pharming Group (NASDAQ:PHAR) Stock Price Down 2.6%

Pharming Group (NASDAQ:PHAR)’s stock price was down 2.6% during trading on Tuesday . The company traded as low as $7.60 and last traded at $7.60. Approximately 1,676 shares changed hands during trading, a decline of 63% from the average daily volume of 4,540 shares. The stock had previously closed at $7.80.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Thursday, August 1st.

Pharming Group Trading Up 1.3 %

The company has a quick ratio of 2.65, a current ratio of 3.39 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $7.91 and its 200-day moving average price is $9.04. The stock has a market capitalization of $545.35 million, a P/E ratio of -50.25 and a beta of 0.14.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The business had revenue of $74.09 million for the quarter, compared to the consensus estimate of $71.95 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. As a group, equities research analysts expect that Pharming Group will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent filing with the Securities & Exchange Commission. 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.