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

Pharming Group (NASDAQ:PHAR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.72, but opened at $8.44. Pharming Group shares last traded at $8.60, with a volume of 5,479 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research note on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of Pharming Group in a research report on Monday. They issued a “buy” rating and a $14.00 target price for the company. Finally, Oppenheimer reduced 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.

Pharming Group Stock Performance

The company has a 50-day moving average of $8.21 and a 200-day moving average of $8.13. The firm has a market capitalization of $592.88 million, a price-to-earnings ratio of -33.62 and a beta of 0.05. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,110 shares of the company’s stock after buying 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. 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.