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

Pharming Group (NASDAQ:PHAR) gapped up prior to trading on Friday . The stock had previously closed at $7.65, but opened at $7.98. Pharming Group shares last traded at $7.94, with a volume of 469 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Pharming Group from $30.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday, March 20th. Finally, Jefferies Financial Group assumed coverage on Pharming Group in a research note on Monday, December 9th. They issued a “buy” rating and a $14.00 price objective for the company.

Pharming Group Trading Up 2.2 %

The company has a market cap of $531.66 million, a price-to-earnings ratio of -30.06 and a beta of -0.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 2.76. The business’s 50-day simple moving average is $8.67 and its 200-day simple moving average is $8.69.

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

Hedge Funds Weigh In On Pharming Group

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in shares of Pharming Group (NASDAQ:PHAR) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,997 shares of the company’s stock after purchasing an additional 6,887 shares during the period. Silverberg Bernstein Capital Management LLC owned 0.07% of Pharming Group worth $483,000 at the end of the most recent reporting period. Institutional investors 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.