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

Pharming Group (NASDAQ:PHAR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.68, but opened at $8.40. Pharming Group shares last traded at $8.40, with a volume of 186 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a research note on Thursday, October 10th.

Pharming Group Price Performance

The stock has a market capitalization of $565.69 million, a P/E ratio of -54.25 and a beta of 0.15. The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $8.64.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $74.09 million during the quarter, compared to analyst estimates of $71.95 million. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. During the same quarter in the prior year, the company earned $0.02 earnings per share. Sell-side analysts expect that Pharming Group will post -0.15 EPS for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its position in Pharming Group (NASDAQ:PHAR) by 32.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,435 shares of the company’s stock after purchasing 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 reporting period. 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.