Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s What Happened

Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Friday . The stock had previously closed at $10.46, but opened at $10.23. Pharming Group shares last traded at $9.91, with a volume of 1,310 shares.

Analyst Ratings Changes

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

Pharming Group Price Performance

The stock has a market capitalization of $670.89 million, a P/E ratio of -38.04 and a beta of 0.05. 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 50-day moving average price of $8.60 and a 200 day moving average price of $8.27.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 as of its most recent SEC filing. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.