Pharming Group (NASDAQ:PHAR) Shares Gap Up to $8.05

Pharming Group (NASDAQ:PHAR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.05, but opened at $8.43. Pharming Group shares last traded at $8.43, with a volume of 402 shares traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Friday, May 31st.

Pharming Group Price Performance

The business’s 50 day moving average is $8.95 and its two-hundred day moving average is $10.58. The firm has a market capitalization of $567.71 million, a PE ratio of -50.31 and a beta of 0.15.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.20). The business had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $68.43 million. Pharming Group had a negative return on equity of 4.61% and a negative net margin of 4.01%. Analysts expect that Pharming Group will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pharming Group stock. Silverberg Bernstein Capital Management LLC bought a new stake in shares of Pharming Group (NASDAQ:PHAR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,710 shares of the company’s stock, valued at approximately $202,000. 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.