Pharming Group (NASDAQ:PHAR) Trading Down 2% – Here’s Why

Shares of Pharming Group (NASDAQ:PHAR) dropped 2% during mid-day trading on Monday . The stock traded as low as $8.58 and last traded at $8.75. Approximately 5,512 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 6,201 shares. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PHAR shares. 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 research note on Friday, March 14th. HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company.

Pharming Group Stock Performance

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 firm has a market cap of $595.95 million, a P/E ratio of -33.69 and a beta of -0.10. The business’s fifty day simple moving average is $8.90 and its 200-day simple moving average is $8.63.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $92.70 million during the quarter, compared to analysts’ expectations of $76.67 million. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. As a group, sell-side analysts expect that Pharming Group will post -0.2 earnings per share 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 lifted its holdings in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent reporting period. 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.