Pharming Group (NASDAQ:PHAR) Stock Price Down 3.5% - Time to Sell?

Shares of Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Get Free Report) fell 3.5% during trading on Wednesday . The stock traded as low as $10.39 and last traded at $10.22. 444 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 6,095 shares. The stock had previously closed at $10.59.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PHAR. Oppenheimer boosted their price target on shares of Pharming Group from $30.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. HC Wainwright restated a "buy" rating and set a $37.00 target price on shares of Pharming Group in a research report on Thursday, March 20th.

Pharming Group Price Performance

The firm's 50-day moving average price is $10.53 and its 200-day moving average price is $9.45. The company has a current ratio of 2.76, a quick ratio of 2.00 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $683.71 million, a PE ratio of -50.25 and a beta of 0.02.

Pharming Group (NASDAQ:PHAR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.03. Pharming Group had a negative net margin of 4.14% and a negative return on equity of 6.01%. The company had revenue of $79.09 million for the quarter, compared to analyst estimates of $67.74 million. On average, equities analysts forecast that Pharming Group N.V. Sponsored ADR will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its position in Pharming Group N.V. Sponsored ADR (NASDAQ:PHAR - Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,147 shares of the company's stock after acquiring an additional 4,150 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.08% of Pharming Group worth $557,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is currently owned by institutional investors.

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.