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

Shares of Pharming Group (NASDAQ:PHAR) gapped down prior to trading 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.

Wall Street Analyst Weigh In

PHAR has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday. Oppenheimer upped their target price on shares of Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Finally, Jefferies Financial Group initiated coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective for the company.

Pharming Group Stock Down 3.1 %

The company’s fifty day moving average price is $8.91 and its 200-day moving average price is $8.61. The stock has a market cap of $588.40 million, a P/E ratio of -33.19 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Pharming Group (NASDAQ:PHAR) last posted its quarterly 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). The company had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $76.67 million. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. Equities analysts forecast that Pharming Group will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its position in Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.