Pharming Group (NASDAQ:PHAR) Stock Price Down 2% – Here’s What Happened

Shares of Pharming Group (NASDAQ:PHAR) fell 2% during trading on Monday . The company traded as low as $8.58 and last traded at $8.75. 5,512 shares were traded during mid-day trading, a decline of 11% from the average session volume of 6,201 shares. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Thursday, March 20th. Jefferies Financial Group started coverage on Pharming Group in a research report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Oppenheimer increased their price target on Pharming Group from $30.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

Pharming Group Trading Down 1.3 %

The company has a market cap of $592.89 million, a P/E ratio of -33.52 and a beta of -0.10. The business’s 50-day moving average price is $8.86 and its 200 day moving average price is $8.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, March 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $92.70 million during the quarter, compared to analyst estimates of $76.67 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. As a group, analysts expect that Pharming Group will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its stake in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. 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.