Pharming Group (NASDAQ:PHAR) Shares Gap Down – What’s Next?

Pharming Group (NASDAQ:PHAR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.68, but opened at $8.40. Pharming Group shares last traded at $8.40, with a volume of 186 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, October 10th.

Pharming Group Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 2.65. The company’s 50-day moving average price is $7.90 and its 200-day moving average price is $8.64. The company has a market cap of $565.69 million, a P/E ratio of -54.25 and a beta of 0.15.

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

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted 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 institutional investor owned 23,435 shares of the company’s stock after purchasing 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. 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.