Pharming Group (NASDAQ:PHAR) Shares Gap Down to $9.91

Pharming Group (NASDAQ:PHAR - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $9.91, but opened at $9.36. Pharming Group shares last traded at $9.36, with a volume of 589 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday, March 14th.

Pharming Group Stock Down 5.2 %

The firm's 50-day moving average price is $10.79 and its 200-day moving average price is $11.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.06 and a quick ratio of 3.33. The company has a market cap of $630.16 million, a price-to-earnings ratio of -67.07 and a beta of 0.16.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.08). Pharming Group had a negative return on equity of 4.53% and a negative net margin of 4.13%. The business had revenue of $81.20 million for the quarter, compared to analysts' expectations of $71.83 million. Sell-side analysts forecast that Pharming Group will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently bought a new stake in Pharming Group stock. Orion Portfolio Solutions LLC purchased a new position in shares of Pharming Group (NASDAQ:PHAR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,715 shares of the company's stock, valued at approximately $134,000. 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.