Pharming Group (NASDAQ:PHAR) Shares Gap Down - Time to Sell?

Shares of Pharming Group (NASDAQ:PHAR - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $8.93, but opened at $8.62. Pharming Group shares last traded at $8.63, with a volume of 300 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PHAR. Jefferies Financial Group assumed coverage on Pharming Group in a report on Monday, December 9th. They issued a "buy" rating and a $14.00 price target on the stock. Oppenheimer upped their target price on Pharming Group from $30.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, March 20th.

Pharming Group Price Performance

The company has a 50-day moving average of $8.86 and a two-hundred day moving average of $8.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The stock has a market capitalization of $592.89 million, a PE ratio of -33.52 and a beta of -0.10.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The company had revenue of $92.70 million for the quarter, compared to analysts' expectations of $76.67 million. Sell-side analysts predict that Pharming Group will post -0.2 EPS for the current fiscal year.

Remove Ads

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in Pharming Group (NASDAQ:PHAR - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,997 shares of the company's stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.