Pharming Group (NASDAQ:PHAR) Shares Gap Down – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.93, but opened at $9.43. Pharming Group shares last traded at $9.52, with a volume of 864 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group assumed coverage on Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a report on Tuesday, December 17th. Finally, Oppenheimer reduced 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, October 28th.

Pharming Group Price Performance

The stock has a market capitalization of $647.78 million, a P/E ratio of -36.73 and a beta of -0.08. The business has a fifty day simple moving average of $8.82 and a 200-day simple moving average of $8.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 0.03% of the stock is currently 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.