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

Pharming Group (NASDAQ:PHAR) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.00, but opened at $7.74. Pharming Group shares last traded at $7.76, with a volume of 2,068 shares.

Analysts Set New Price Targets

Several brokerages have commented on PHAR. Oppenheimer decreased their target price on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Stock Performance

The business’s 50-day moving average is $8.18 and its two-hundred day moving average is $8.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 and Exchange Commission. 0.03% of the stock is currently 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.