Pharming Group (NASDAQ:PHAR) Trading Down 4.9% – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price was down 4.9% on Tuesday . The stock traded as low as $8.83 and last traded at $8.70. Approximately 796 shares were traded during trading, a decline of 86% from the average daily volume of 5,837 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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. Jefferies Financial Group assumed coverage on shares of Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company.

Pharming Group Trading Down 4.6 %

The stock has a market capitalization of $593.91 million, a PE ratio of -33.58 and a beta of -0.10. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $9.32 and a 200-day moving average price of $8.55.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.