Pharming Group (NASDAQ:PHAR) Trading Down 7.8% – Time to Sell?

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price target for the company. Oppenheimer decreased their target price on 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 reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Tuesday, December 17th.

Pharming Group Price Performance

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $9.11 and a two-hundred day moving average of $8.43. The firm has a market cap of $557.85 million, a P/E ratio of -31.54 and a beta of -0.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Pharming Group (NASDAQ:PHAR) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,997 shares of the company’s stock after buying an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities and Exchange Commission. 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.