Pharming Group (NASDAQ:PHAR) Shares Gap Up – Time to Buy?

Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Monday . The stock had previously closed at $7.72, but opened at $8.44. Pharming Group shares last traded at $8.60, with a volume of 5,479 shares traded.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Pharming Group in a research note on Monday. They set a “buy” rating and a $14.00 price objective for the company. Oppenheimer reduced 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. Finally, HC Wainwright restated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, October 24th.

Pharming Group Price Performance

The firm has a 50 day moving average of $8.21 and a 200-day moving average of $8.14. The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The company has a market cap of $595.55 million, a P/E ratio of -33.77 and a beta of 0.05.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.