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

Pharming Group (NASDAQ:PHAR)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.09, but opened at $9.50. Pharming Group shares last traded at $9.64, with a volume of 3,700 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group started 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. Oppenheimer dropped their target price on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a report on Tuesday, December 17th.

Pharming Group Stock Up 4.5 %

The company has a market cap of $644.05 million, a price-to-earnings ratio of -36.52 and a beta of -0.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The business has a 50-day simple moving average of $8.98 and a 200-day simple moving average of $8.42.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in Pharming Group (NASDAQ:PHAR) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 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.