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

Shares of Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Tuesday . The stock had previously closed at $7.75, but opened at $7.51. Pharming Group shares last traded at $7.50, with a volume of 1,444 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PHAR shares. HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a report on Thursday, October 24th. Oppenheimer lowered their target price on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 28th.

Pharming Group Price 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 stock’s 50-day moving average is $8.26 and its 200-day moving average is $8.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.