Pharming Group (NASDAQ:PHAR) Trading Down 7.8% – Here’s Why

Pharming Group (NASDAQ:PHAR) shares traded down 7.8% during trading on Monday . The stock traded as low as $7.95 and last traded at $8.08. 1,692 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 5,335 shares. The stock had previously closed at $8.76.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 price target on the stock. Oppenheimer decreased their price target on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Tuesday, December 17th.

Pharming Group Stock Down 6.4 %

The stock has a market cap of $557.85 million, a P/E ratio of -31.54 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The firm’s 50-day moving average is $9.11 and its two-hundred day moving average is $8.43.

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 position in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.03% of the company’s stock.

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.