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

Pharming Group (NASDAQ:PHAR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $8.49, but opened at $9.04. Pharming Group shares last traded at $8.87, with a volume of 902 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PHAR. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Tuesday. Jefferies Financial Group began coverage on Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Oppenheimer lowered their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th.

Pharming Group Stock Performance

The stock has a market cap of $617.30 million, a price-to-earnings ratio of -35.00 and a beta of 0.05. The company’s 50-day simple moving average is $8.30 and its 200-day simple moving average is $8.14. The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 approximately 0.06% of Pharming Group worth $339,000 as of its most recent filing with the SEC. 0.03% of the stock is owned by institutional investors.

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.