Pharming Group (NASDAQ:PHAR) Shares Gap Up to $7.82

Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Wednesday . The stock had previously closed at $7.82, but opened at $8.69. Pharming Group shares last traded at $8.69, with a volume of 3,699 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Friday, May 31st.

Pharming Group Stock Performance

The company has a 50 day moving average price of $8.47 and a 200 day moving average price of $10.08. The firm has a market cap of $565.02 million, a price-to-earnings ratio of -54.06 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last announced its earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.20). Pharming Group had a negative net margin of 4.01% and a negative return on equity of 4.61%. The firm had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $68.43 million. On average, research analysts forecast that Pharming Group will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in Pharming Group (NASDAQ:PHAR) by 32.3% during the 2nd 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 acquiring an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 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.