Pharming Group (NASDAQ:PHAR) Shares Gap Down – What’s Next?

Shares of Pharming Group (NASDAQ:PHAR) gapped down prior to trading on Tuesday . The stock had previously closed at $7.75, but opened at $7.51. Pharming Group shares last traded at $7.50, with a volume of 1,444 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PHAR. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Thursday, October 24th. Oppenheimer cut their price target on 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 Trading Down 2.6 %

The stock’s 50-day simple moving average is $8.24 and its 200 day simple moving average is $8.34. 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 increased its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,435 shares of the company’s stock after purchasing an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 0.03% of the stock is owned by institutional investors and hedge funds.

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.