Pharming Group (NASDAQ:PHAR) Shares Gap Down – Should You Sell?

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Wednesday . The stock had previously closed at $8.00, but opened at $7.74. Pharming Group shares last traded at $7.76, with a volume of 2,068 shares changing hands.

Analyst Ratings Changes

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

Pharming Group Stock Down 2.5 %

The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $535.86 million, a price-to-earnings ratio of -30.38 and a beta of 0.13. The stock has a fifty day moving average of $8.21 and a 200-day moving average of $8.38.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 0.03% of the stock is currently 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.