Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s What Happened

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Friday . The stock had previously closed at $8.09, but opened at $7.79. Pharming Group shares last traded at $7.85, with a volume of 677 shares traded.

Wall Street Analysts Forecast Growth

PHAR has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. HC Wainwright restated a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a report on Thursday, March 20th.

Pharming Group Price Performance

The stock has a market cap of $548.67 million, a price-to-earnings ratio of -31.02 and a beta of -0.08. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average is $8.58 and its two-hundred day moving average is $8.69.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data 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 net margin of 6.09% and a negative return on equity of 7.65%. The firm had revenue of $92.70 million during the quarter, compared to analyst estimates of $76.67 million. As a group, research analysts predict that Pharming Group will post -0.2 earnings per share for the current year.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.