Pharming Group (NASDAQ:PHAR) Shares Gap Up – Time to Buy?

Shares of Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Monday . The stock had previously closed at $8.30, but opened at $8.68. Pharming Group shares last traded at $8.70, with a volume of 971 shares.

Analysts Set New Price Targets

PHAR has been the subject of a number of recent analyst reports. Oppenheimer lowered 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. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday.

Pharming Group Stock Down 1.6 %

The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $8.05 and a 200 day moving average of $8.53. The stock has a market capitalization of $576.46 million, a price-to-earnings ratio of -54.38 and a beta of 0.15.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after buying an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities and Exchange Commission. 0.03% of the stock is owned by institutional investors and hedge funds.

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.