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

Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Friday . The stock had previously closed at $10.46, but opened at $10.23. Pharming Group shares last traded at $9.91, with a volume of 1,310 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on PHAR. Jefferies Financial Group initiated coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, December 17th. Finally, Oppenheimer reduced 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 report on Monday, October 28th.

Pharming Group Stock Performance

The stock has a market cap of $691.24 million, a PE ratio of -39.19 and a beta of 0.05. The stock has a 50-day moving average of $8.57 and a 200 day moving average of $8.26. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 at the end of the most recent reporting period. 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.