Pharming Group (NASDAQ:PHAR) Shares Down 3.5%

Shares of Pharming Group (NASDAQ:PHAR) fell 3.5% during mid-day trading on Thursday . The stock traded as low as $7.50 and last traded at $7.72. 1,838 shares were traded during trading, a decline of 57% from the average session volume of 4,280 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research note on Thursday, August 1st.

Pharming Group Price Performance

The company has a market cap of $526.29 million, a P/E ratio of -48.49 and a beta of 0.15. The company’s 50-day moving average price is $8.16 and its two-hundred day moving average price is $9.70. The company has a current ratio of 3.39, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

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 firm had revenue of $74.09 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.02 earnings per share. As a group, sell-side analysts expect that Pharming Group will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,435 shares of the company’s stock after buying 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 owned by institutional investors and hedge funds.

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.