Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.68, but opened at $8.40. Pharming Group shares last traded at $8.40, with a volume of 186 shares.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Thursday, October 10th.

Pharming Group Stock Up 6.0 %

The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $8.62. The company has a market capitalization of $619.29 million, a price-to-earnings ratio of -48.05 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The business had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. During the same quarter in the prior year, the company earned $0.02 EPS. Sell-side analysts anticipate that Pharming Group will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,435 shares of the company’s stock after buying an additional 5,725 shares during the quarter. 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 owned by hedge funds and other institutional investors.

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.