Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Shares of Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Wednesday . The stock had previously closed at $8.80, but opened at $8.48. Pharming Group shares last traded at $8.49, with a volume of 1,667 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Oppenheimer dropped their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research note on Tuesday. Finally, Jefferies Financial Group began coverage on Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 price target for the company.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The firm has a market cap of $606.44 million, a price-to-earnings ratio of -34.38 and a beta of 0.05. The firm has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $8.14.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,110 shares of the company’s stock after acquiring 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 owned by institutional investors and hedge funds.

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.