Pharming Group (NASDAQ:PHAR) Shares Gap Up to $8.05

Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Wednesday . The stock had previously closed at $8.05, but opened at $8.43. Pharming Group shares last traded at $8.43, with a volume of 402 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Friday, May 31st.

Pharming Group Price Performance

The stock has a 50-day moving average price of $8.95 and a 200 day moving average price of $10.58. The firm has a market cap of $567.71 million, a price-to-earnings ratio of -50.31 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last posted its earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.20). The firm had revenue of $55.59 million for the quarter, compared to analyst estimates of $68.43 million. Pharming Group had a negative return on equity of 4.61% and a negative net margin of 4.01%. As a group, equities research analysts predict that Pharming Group will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. Silverberg Bernstein Capital Management LLC purchased a new position in shares of Pharming Group (NASDAQ:PHAR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,710 shares of the company’s stock, valued at approximately $202,000. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.