Pharming Group (NASDAQ:PHAR) Stock Price Down 3.4% – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price dropped 3.4% on Monday . The stock traded as low as $9.55 and last traded at $9.55. Approximately 455 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 5,137 shares. The stock had previously closed at $9.89.

Analyst Upgrades and Downgrades

PHAR has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on shares of Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company. Oppenheimer cut their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research note on Tuesday, December 17th.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The firm has a market capitalization of $661.39 million, a PE ratio of -37.50 and a beta of -0.08. The firm has a fifty day moving average price of $8.65 and a 200 day moving average price of $8.30.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after purchasing 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 SEC filing. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.