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

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Friday . The stock had previously closed at $8.93, but opened at $8.62. Pharming Group shares last traded at $8.63, with a volume of 300 shares changing hands.

Wall Street Analysts Forecast Growth

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

Pharming Group Stock Performance

The business’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $8.61. 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 market cap of $588.40 million, a P/E ratio of -33.19 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR) last posted its earnings results on Thursday, March 13th. The company reported $0.05 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 company had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $76.67 million. As a group, sell-side analysts expect that Pharming Group will post -0.2 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 grew its position in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent disclosure with the 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 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.