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

Pharming Group (NASDAQ:PHAR)’s stock price 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 traded.

Wall Street Analyst Weigh In

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

Pharming Group Stock Performance

The stock has a market capitalization of $678.35 million, a PE ratio of -38.46 and a beta of 0.05. The business’s fifty day moving average is $8.45 and its two-hundred day moving average is $8.20. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.