Pharming Group (NASDAQ:PHAR) Shares Gap Up – Should You Buy?

Pharming Group (NASDAQ:PHAR) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.52, but opened at $9.09. Pharming Group shares last traded at $9.24, with a volume of 1,705 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research note on Tuesday, December 17th. Finally, Oppenheimer reduced their price target 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.

Pharming Group Price Performance

The stock’s fifty day simple moving average is $9.34 and its 200-day simple moving average is $8.49. The stock has a market cap of $608.87 million, a P/E ratio of -34.42 and a beta of -0.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.