Pharming Group (NASDAQ:PHAR) Shares Down 3.4% – Time to Sell?

Shares of Pharming Group (NASDAQ:PHAR) fell 3.4% during trading on Monday . The company traded as low as $9.55 and last traded at $9.55. 455 shares traded hands during trading, a decline of 91% from the average session volume of 5,137 shares. The stock had previously closed at $9.89.

Analysts Set New Price Targets

A number of brokerages have commented on PHAR. HC Wainwright reaffirmed a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Pharming Group in a report on Monday, December 9th. They set a “buy” rating and a $14.00 target price for the company. Finally, Oppenheimer reduced their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 28th.

Pharming Group Trading Down 3.1 %

The stock’s 50 day moving average price is $8.60 and its 200-day moving average price is $8.27. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $649.86 million, a PE ratio of -36.85 and a beta of 0.05.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in 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 quarter. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

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.