Pharming Group (NASDAQ:PHAR) Shares Gap Up – Time to Buy?

Pharming Group (NASDAQ:PHAR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $8.51, but opened at $8.77. Pharming Group shares last traded at $8.77, with a volume of 2,704 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Thursday, October 10th.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39. The firm’s 50-day moving average price is $7.90 and its two-hundred day moving average price is $8.64. The firm has a market capitalization of $584.55 million, a price-to-earnings ratio of -54.25 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The business had revenue of $74.09 million for the quarter, compared to analyst estimates of $71.95 million. During the same quarter last year, the firm posted $0.02 earnings per share. Sell-side analysts predict that Pharming Group will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent SEC filing. 0.03% of the stock is owned by hedge funds and other institutional investors.

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.