Pharming Group (NASDAQ:PHAR) Shares Gap Up – Time to Buy?

Shares of Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Tuesday . The stock had previously closed at $8.51, but opened at $8.77. Pharming Group shares last traded at $8.77, with a volume of 2,704 shares changing hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Pharming Group in a research note on Thursday, October 10th.

Pharming Group Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39. The firm’s 50 day moving average is $7.90 and its 200-day moving average is $8.64. The firm has a market cap of $584.55 million, a price-to-earnings ratio of -54.25 and a beta of 0.15.

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

Institutional Inflows and Outflows

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