Pharming Group (NASDAQ:PHAR) Shares Gap Up – Should You Buy?

Shares of Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Monday . The stock had previously closed at $7.35, but opened at $7.62. Pharming Group shares last traded at $7.63, with a volume of 8,676 shares changing hands.

Analysts Set New Price Targets

PHAR has been the subject of several research analyst reports. Oppenheimer decreased 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. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday, October 24th.

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 stock has a market capitalization of $529.11 million, a PE ratio of -29.35 and a beta of 0.13. The firm has a 50 day moving average of $8.24 and a 200-day moving average of $8.20.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased 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 SEC. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.03% of the company’s stock.

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.