Pharming Group (NASDAQ:PHAR) Shares Gap Down - Here's What Happened

Shares of Pharming Group (NASDAQ:PHAR - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $7.75, but opened at $7.51. Pharming Group shares last traded at $7.50, with a volume of 1,444 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer dropped their price target 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 restated a "buy" rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Stock Down 2.6 %

The business's 50-day simple moving average is $8.24 and its two-hundred day simple moving average is $8.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Pharming Group (NASDAQ:PHAR - Free Report) by 75.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,110 shares of the company's stock after purchasing 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 SEC filing. Hedge funds and other institutional investors 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.

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