Pharming Group (NASDAQ:PHAR) Shares Gap Down to $10.00

Pharming Group (NASDAQ:PHAR) shares gapped down prior to trading on Monday . The stock had previously closed at $10.00, but opened at $9.67. Pharming Group shares last traded at $9.67, with a volume of 168 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday, March 14th.

Pharming Group Stock Performance

The business has a fifty day simple moving average of $10.92 and a 200 day simple moving average of $11.46. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.62.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 14th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The company had revenue of $81.20 million during the quarter, compared to analyst estimates of $71.83 million. Pharming Group had a negative net margin of 4.13% and a negative return on equity of 4.53%. On average, research analysts forecast that Pharming Group will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC acquired a new position in Pharming Group (NASDAQ:PHAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,710 shares of the company’s stock, valued at approximately $202,000. Hedge funds and other 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's commercialized product is RUCONEST, a plasma-free rhC1INH protein replacement therapy for the treatment acute hereditary angioedema (HAE) attacks.