Pharming Group (NASDAQ:PHAR) Shares Gap Down – Should You Sell?

Shares of Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Wednesday . The stock had previously closed at $8.00, but opened at $7.74. Pharming Group shares last traded at $7.76, with a volume of 2,068 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Oppenheimer cut their price objective on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a report on Thursday, October 24th.

Pharming Group Trading Down 3.8 %

The stock has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. 0.03% of the stock is owned by hedge funds and other institutional investors.

Pharming Group Company Profile

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.