Pharming Group (NASDAQ:PHAR) Shares Down 6.4%

Pharming Group (NASDAQ:PHAR) shares traded down 6.4% on Thursday . The stock traded as low as $7.75 and last traded at $7.75. 2,556 shares changed hands during trading, a decline of 31% from the average session volume of 3,698 shares. The stock had previously closed at $8.28.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Friday, May 31st.

Pharming Group Price Performance

The stock has a market capitalization of $563.97 million, a P/E ratio of -52.34 and a beta of 0.15. The stock’s fifty day moving average is $8.78 and its 200-day moving average is $10.46.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.20). The company had revenue of $55.59 million during the quarter, compared to analyst estimates of $68.43 million. Pharming Group had a negative return on equity of 4.61% and a negative net margin of 4.01%. On average, research analysts expect that Pharming Group will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC acquired a new position in shares of Pharming Group (NASDAQ:PHAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,710 shares of the company’s stock, valued at approximately $202,000. Institutional investors and hedge funds 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.