Pharming Group (NASDAQ:PHAR) Trading Down 3.9% – Here’s Why

Pharming Group (NASDAQ:PHAR)’s stock price traded down 3.9% during mid-day trading on Tuesday . The stock traded as low as $9.34 and last traded at $10.02. 1,303 shares were traded during mid-day trading, a decline of 75% from the average session volume of 5,267 shares. The stock had previously closed at $10.43.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Oppenheimer decreased their target price on shares of Pharming Group from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. 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. Finally, Jefferies Financial Group began coverage on Pharming Group in a research note on Monday, December 9th. They set a “buy” rating and a $14.00 price target on the stock.

Pharming Group Price Performance

The stock has a market capitalization of $686.49 million, a PE ratio of -38.92 and a beta of 0.05. 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 simple moving average is $8.33 and its two-hundred day simple moving average is $8.15.

Institutional Investors Weigh In On Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC raised its stake in Pharming Group (NASDAQ:PHAR) by 75.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 0.03% of the stock is 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.