Pharming Group (NASDAQ:PHAR) Shares Down 4.5% – Here’s What Happened

Pharming Group (NASDAQ:PHAR)’s stock price dropped 4.5% during trading on Friday . The stock traded as low as $8.50 and last traded at $8.51. Approximately 1,364 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,839 shares. The stock had previously closed at $8.91.

Analyst Upgrades and Downgrades

PHAR has been the topic of several recent analyst reports. Oppenheimer dropped their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a report on Thursday, October 24th.

Pharming Group Stock Performance

The firm has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $8.50. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The company had revenue of $74.09 million for the quarter, compared to analysts’ expectations of $71.95 million. During the same period in the prior year, the business earned $0.02 EPS. Analysts predict that Pharming Group will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 about 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 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.