Pharming Group (NASDAQ:PHAR) Shares Gap Up to $7.50

Shares of Pharming Group (NASDAQ:PHAR) gapped up before the market opened on Monday . The stock had previously closed at $7.50, but opened at $8.03. Pharming Group shares last traded at $7.89, with a volume of 1,405 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 target price on shares of Pharming Group in a report on Thursday, August 1st.

Pharming Group Trading Up 7.2 %

The firm has a market cap of $541.45 million, a P/E ratio of -50.25 and a beta of 0.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39. The stock has a fifty day simple moving average of $7.93 and a 200 day simple moving average of $9.10.

Pharming Group (NASDAQ:PHAR) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. The company had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, research analysts expect that Pharming Group will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Pharming Group

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Pharming Group (NASDAQ:PHAR) by 32.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,435 shares of the company’s stock after purchasing an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.03% of the company’s stock.

Pharming Group Company Profile

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.