Pharming Group (NASDAQ:PHAR) Shares Gap Up – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.20, but opened at $8.56. Pharming Group shares last traded at $8.69, with a volume of 3,244 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PHAR shares. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research report on Tuesday, December 17th. Oppenheimer decreased their price objective on Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Finally, Jefferies Financial Group assumed coverage on Pharming Group in a report on Monday, December 9th. They issued a “buy” rating and a $14.00 target price for the company.

Pharming Group Stock Up 5.8 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.76 and a current ratio of 3.53. The company’s fifty day moving average price is $9.12 and its 200-day moving average price is $8.43. The stock has a market cap of $590.16 million, a P/E ratio of -33.37 and a beta of -0.10.

Institutional Inflows and Outflows

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 16.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned approximately 0.07% of Pharming Group worth $483,000 at the end of the most recent quarter. 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.