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

Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Thursday . The stock had previously closed at $8.52, but opened at $9.09. Pharming Group shares last traded at $9.24, with a volume of 1,705 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on PHAR. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a report on Tuesday, December 17th. Oppenheimer reduced their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group started coverage on shares of Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 price target for the company.

Pharming Group Trading Up 7.5 %

The business has a 50-day simple moving average of $9.35 and a two-hundred day simple moving average of $8.48. The stock has a market cap of $623.15 million, a price-to-earnings ratio of -35.23 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.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its holdings in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 0.03% of the stock is owned by institutional investors and hedge funds.

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.