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

Pharming Group (NASDAQ:PHAR - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.93, but opened at $9.43. Pharming Group shares last traded at $9.52, with a volume of 864 shares traded.

Analyst Upgrades and Downgrades

PHAR has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a research note on Tuesday, December 17th. Oppenheimer lowered their target price on shares of Pharming Group from $31.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, October 28th. Finally, Jefferies Financial Group began coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a "buy" rating and a $14.00 target price for the company.

Pharming Group Trading Down 5.5 %

The company has a 50-day simple moving average of $8.76 and a 200-day simple moving average of $8.36. 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 cap of $636.29 million, a P/E ratio of -36.08 and a beta of -0.08.

Institutional Inflows and Outflows

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 - Free Report) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent reporting period. 0.03% of the stock is currently owned by institutional investors and hedge funds.

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.