Pharming Group (NASDAQ:PHAR) Stock Price Down 6.4% – What’s Next?

Pharming Group (NASDAQ:PHAR)’s stock price traded down 6.4% during mid-day trading on Monday . The company traded as low as $7.66 and last traded at $7.66. 638 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 4,987 shares. The stock had previously closed at $8.18.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a report on Thursday, October 24th. Oppenheimer reduced their target price 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 6.1 %

The company has a quick ratio of 2.76, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $8.23 and its two-hundred day moving average is $8.35. The stock has a market cap of $520.93 million, a price-to-earnings ratio of -28.92 and a beta of 0.13.

Institutional Trading of Pharming Group

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