Pharming Group (NASDAQ:PHAR) Shares Down 7.8% - Here's Why

Pharming Group (NASDAQ:PHAR - Get Free Report) shares dropped 7.8% during mid-day trading on Monday . The company traded as low as $7.95 and last traded at $8.08. Approximately 1,692 shares were traded during trading, a decline of 68% from the average daily volume of 5,335 shares. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PHAR shares. Oppenheimer lowered their target price on shares of Pharming Group from $31.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, October 28th. HC Wainwright reiterated a "buy" rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group assumed coverage on Pharming Group in a research note on Monday, December 9th. They issued a "buy" rating and a $14.00 target price on the stock.

Pharming Group Price Performance

The firm has a market cap of $597.30 million, a PE ratio of -33.77 and a beta of -0.10. 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 business's fifty day moving average is $9.21 and its 200-day moving average is $8.43.

Institutional Investors Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its position in Pharming Group (NASDAQ:PHAR - Free Report) by 16.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,997 shares of the company's stock after acquiring an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent SEC filing. 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.