Pharming Group (NASDAQ:PHAR) Shares Gap Down - Time to Sell?

Shares of Pharming Group (NASDAQ:PHAR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $8.62, but opened at $7.97. Pharming Group shares last traded at $7.93, with a volume of 210 shares traded.

Analysts Set New Price Targets

PHAR has been the subject of several recent analyst reports. Oppenheimer raised their price target on Pharming Group from $30.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Jefferies Financial Group initiated coverage on shares of Pharming Group in a research report on Monday, December 9th. They set a "buy" rating and a $14.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th.

Pharming Group Trading Up 2.4 %

The firm has a market cap of $535.74 million, a price-to-earnings ratio of -30.29 and a beta of -0.08. The business has a fifty day moving average of $8.67 and a two-hundred day moving average of $8.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Pharming Group (NASDAQ:PHAR - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The firm had revenue of $92.70 million during the quarter, compared to analysts' expectations of $76.67 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. As a group, equities analysts expect that Pharming Group will post -0.2 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 grew its stake in shares of Pharming Group (NASDAQ:PHAR - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,997 shares of the company's stock after buying an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent reporting period. 0.03% of the stock is currently owned by institutional investors.

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.