Pharming Group (NASDAQ:PHAR) Shares Down 4.5% – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price traded down 4.5% during trading on Friday . The company traded as low as $8.50 and last traded at $8.51. 1,364 shares traded hands during trading, a decline of 72% from the average session volume of 4,839 shares. The stock had previously closed at $8.91.

Analysts Set New Price Targets

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

Pharming Group Stock Down 4.4 %

The company has a current ratio of 3.53, a quick ratio of 2.76 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $577.91 million, a P/E ratio of -32.77 and a beta of 0.13. The company’s fifty day simple moving average is $8.13 and its 200 day simple moving average is $8.49.

Pharming Group (NASDAQ:PHAR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. Pharming Group had a negative return on equity of 7.65% and a negative net margin of 6.09%. The company had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. During the same quarter last year, the company posted $0.02 earnings per share. Research analysts expect that Pharming Group will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its holdings in Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,110 shares of the company’s stock after acquiring an additional 17,675 shares during the quarter. Silverberg Bernstein Capital Management LLC owned about 0.06% of Pharming Group worth $339,000 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.