Pharming Group (NASDAQ:PHAR) Shares Gap Up to $8.03

Shares of Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Friday . The stock had previously closed at $8.03, but opened at $8.32. Pharming Group shares last traded at $8.39, with a volume of 2,832 shares traded.

Wall Street Analysts Forecast Growth

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

Pharming Group Trading Up 5.7 %

The company has a market capitalization of $575.88 million, a P/E ratio of -53.06 and a beta of 0.14. The business has a fifty day moving average of $7.79 and a 200-day moving average of $8.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $74.09 million for the quarter, compared to analyst estimates of $71.95 million. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. During the same quarter last year, the firm posted $0.02 EPS. Analysts anticipate that Pharming Group will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of 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 13F filing with the SEC. The fund owned 23,435 shares of the company’s stock after buying 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 SEC. Institutional investors and hedge funds own 0.03% of the company’s stock.

Pharming Group Company Profile

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.