Pharming Group (NASDAQ:PHAR) Shares Down 3.6% – Here’s Why

Pharming Group (NASDAQ:PHAR) dropped 3.6% on Monday . The company traded as low as $8.80 and last traded at $8.63. Approximately 2,744 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 6,183 shares. The stock had previously closed at $8.95.

Wall Street Analyst Weigh In

PHAR has been the topic of a number of research analyst reports. Oppenheimer upped their target price on Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Jefferies Financial Group started coverage on Pharming Group in a research report on Monday, December 9th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $37.00 price objective on shares of Pharming Group in a research report on Friday, March 14th.

Pharming Group Price Performance

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 stock has a market capitalization of $598.67 million, a P/E ratio of -33.85 and a beta of -0.10. The firm has a 50-day moving average price of $8.95 and a 200 day moving average price of $8.60.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $92.70 million for the quarter, compared to the consensus estimate of $76.67 million. Pharming Group had a negative net margin of 6.09% and a negative return on equity of 7.65%. On average, analysts expect that Pharming Group will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,997 shares of the company’s stock after acquiring an additional 6,887 shares during the quarter. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.