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

Pharming Group (NASDAQ:PHAR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.20, but opened at $8.56. Pharming Group shares last traded at $8.69, with a volume of 3,244 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PHAR shares. Jefferies Financial Group started coverage on Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Tuesday, December 17th. Finally, Oppenheimer lowered their price target on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, October 28th.

Pharming Group Price Performance

The firm has a market capitalization of $590.16 million, a P/E ratio of -33.37 and a beta of -0.10. The stock’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $8.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.