Pharming Group (NASDAQ:PHAR) Shares Gap Up – Still a Buy?

Pharming Group (NASDAQ:PHAR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.49, but opened at $9.04. Pharming Group shares last traded at $8.87, with a volume of 902 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on PHAR. Oppenheimer dropped 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 note on Monday, October 28th. Jefferies Financial Group initiated coverage on Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Tuesday.

Pharming Group Trading Up 5.4 %

The business’s 50-day simple moving average is $8.28 and its two-hundred day simple moving average is $8.13. The firm has a market capitalization of $607.12 million, a price-to-earnings ratio of -34.42 and a beta of 0.05. 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 boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after buying an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.