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

Shares of Pharming Group (NASDAQ:PHAR) traded down 6.4% on Monday . The company traded as low as $7.66 and last traded at $7.66. 638 shares were traded 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.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Oppenheimer reduced their target price on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, October 24th.

Pharming Group Price Performance

The firm has a 50 day simple moving average of $8.26 and a 200-day simple moving average of $8.32. 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 company has a market cap of $511.88 million, a PE ratio of -29.02 and a beta of 0.13.

Hedge Funds Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the period. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent quarter. 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.