Pharming Group (NASDAQ:PHAR) Shares Gap Down – Should You Sell?

Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Wednesday . The stock had previously closed at $8.00, but opened at $7.74. Pharming Group shares last traded at $7.76, with a volume of 2,068 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PHAR. Oppenheimer cut their price target on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. HC Wainwright reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, October 24th.

Pharming Group Trading Down 2.5 %

The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $535.86 million, a price-to-earnings ratio of -30.38 and a beta of 0.13. The firm has a 50-day moving average of $8.21 and a 200 day moving average of $8.38.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

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.