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

Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Friday . The stock had previously closed at $7.65, but opened at $7.98. Pharming Group shares last traded at $7.94, with a volume of 469 shares.

Wall Street Analysts Forecast Growth

PHAR has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th. Oppenheimer lifted their target price on Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Finally, Jefferies Financial Group initiated coverage on Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 price target on the stock.

Pharming Group Stock Up 1.8 %

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 stock’s 50-day moving average price is $8.69 and its 200-day moving average price is $8.68. The company has a market cap of $529.62 million, a P/E ratio of -29.94 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $92.70 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Pharming Group will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is currently owned by institutional investors and hedge funds.

Pharming Group Company Profile

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.