Pharming Group (NASDAQ:PHAR) Shares Down 3.6% – Here’s Why

Shares of Pharming Group (NASDAQ:PHAR) were down 3.6% on Monday . The stock traded as low as $8.80 and last traded at $8.63. Approximately 2,744 shares traded hands during trading, a decline of 56% from the average daily volume of 6,183 shares. The stock had previously closed at $8.95.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PHAR shares. Oppenheimer increased their target price on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a report on Friday, March 14th. Finally, Jefferies Financial Group began coverage on Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company.

Pharming Group Stock Performance

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 two-hundred day simple moving average of $8.60. The firm has a market cap of $598.67 million, a PE ratio of -33.85 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR) last announced its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $92.70 million during the quarter, compared to the consensus estimate of $76.67 million. Equities analysts forecast that Pharming Group will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its position in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. Hedge funds and other 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.