Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group (NASDAQ:PHAR) shares gapped down before the market opened on Friday . The stock had previously closed at $10.60, but opened at $10.01. Pharming Group shares last traded at $9.93, with a volume of 1,009 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PHAR shares. 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 decreased their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Finally, Jefferies Financial Group initiated coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company.

Pharming Group Trading Down 3.6 %

The stock’s fifty day moving average is $8.47 and its 200 day moving average is $8.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The stock has a market cap of $693.27 million, a P/E ratio of -39.31 and a beta of 0.05.

Institutional Trading of Pharming Group

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