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

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened 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.

Analyst Ratings Changes

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

Pharming Group Stock Performance

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 company has a market capitalization of $691.24 million, a price-to-earnings ratio of -39.19 and a beta of 0.05. The firm has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $8.26.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities & Exchange Commission. 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.