Pharming Group (NASDAQ:PHAR) Shares Gap Down – What’s Next?

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Friday . The stock had previously closed at $8.93, but opened at $8.62. Pharming Group shares last traded at $8.63, with a volume of 300 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on PHAR. Jefferies Financial Group started 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. Oppenheimer lifted their price target on shares of Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Thursday.

Pharming Group Price Performance

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $8.90 and its two-hundred day simple moving average is $8.62. The firm has a market cap of $605.75 million, a PE ratio of -34.25 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The company had revenue of $92.70 million for the quarter, compared to the consensus estimate of $76.67 million. As a group, research analysts expect that Pharming Group will post -0.2 EPS for the current year.

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 shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.