Pharming Group (NASDAQ:PHAR) Shares Gap Down to $8.04

Pharming Group (NASDAQ:PHAR) shares gapped down before the market opened on Friday . The stock had previously closed at $8.04, but opened at $7.67. Pharming Group shares last traded at $7.67, with a volume of 601 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, August 1st.

Pharming Group Stock Performance

The firm has a 50-day moving average of $7.91 and a two-hundred day moving average of $9.04. The company has a quick ratio of 2.65, a current ratio of 3.39 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $519.58 million, a PE ratio of -50.25 and a beta of 0.14.

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

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by institutional investors.

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.