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

Pharming Group (NASDAQ:PHAR) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.80, but opened at $8.48. Pharming Group shares last traded at $8.49, with a volume of 1,667 shares traded.

Analysts Set New Price Targets

PHAR has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research note on Tuesday. Jefferies Financial Group assumed coverage on Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Oppenheimer cut their price objective on shares of 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 firm has a market capitalization of $606.44 million, a price-to-earnings ratio of -34.38 and a beta of 0.05. The firm’s fifty day moving average is $8.28 and its 200 day moving average is $8.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 41,110 shares of the company’s stock after buying an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 as of its most recent filing with the SEC. 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.