Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s What Happened

Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Thursday . The stock had previously closed at $9.38, but opened at $9.67. Pharming Group shares last traded at $9.67, with a volume of 513 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PHAR. Oppenheimer dropped their price target on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group started coverage on Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price target for the company.

Pharming Group Stock Up 0.1 %

The stock has a market capitalization of $636.92 million, a P/E ratio of -36.12 and a beta of -0.08. The firm’s 50-day simple moving average is $8.79 and its 200 day simple moving average is $8.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.06% of Pharming Group worth $339,000 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.