Pharming Group (NASDAQ:PHAR) Shares Gap Down – What’s Next?

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.96, but opened at $8.38. Pharming Group shares last traded at $8.38, with a volume of 364 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Thursday, October 10th.

Pharming Group Stock Down 9.4 %

The company has a 50 day moving average of $8.02 and a 200-day moving average of $8.57. The company has a market capitalization of $546.83 million, a P/E ratio of -52.38 and a beta of 0.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 2.65.

Pharming Group (NASDAQ:PHAR) last posted its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The business had revenue of $74.09 million for the quarter, compared to analysts’ expectations of $71.95 million. During the same period last year, the firm posted $0.02 earnings per share. As a group, equities analysts anticipate that Pharming Group will post -0.15 EPS 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 stake in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.