Pharming Group (NASDAQ:PHAR) Shares Down 3.9% – Here’s What Happened

Pharming Group (NASDAQ:PHAR)’s share price was down 3.9% on Wednesday . The company traded as low as $8.37 and last traded at $8.37. Approximately 2,259 shares traded hands during trading, a decline of 52% from the average daily volume of 4,753 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a research note on Thursday.

Pharming Group Trading Down 4.9 %

The company has a market capitalization of $562.32 million, a P/E ratio of -52.19 and a beta of 0.15. The stock’s 50 day moving average is $7.83 and its 200-day moving average is $8.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 2.65.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. The company had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, equities research analysts anticipate that Pharming Group will post -0.15 earnings per share for the current year.

Hedge Funds 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 Pharming Group (NASDAQ:PHAR) by 75.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 0.03% of the stock is currently owned by institutional investors.

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.