Pharming Group (NASDAQ:PHAR) Shares Gap Down to $12.00

Pharming Group (NASDAQ:PHAR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $12.00, but opened at $11.23. Pharming Group shares last traded at $12.10, with a volume of 1,251 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, August 3rd.

Pharming Group Price Performance

The stock has a fifty day moving average of $12.11 and a 200-day moving average of $11.98. The company has a quick ratio of 3.50, a current ratio of 4.29 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $790.96 million, a P/E ratio of -38.87 and a beta of 0.27.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Pharming Group had a negative return on equity of 10.25% and a negative net margin of 10.08%. The business had revenue of $54.90 million during the quarter, compared to analysts’ expectations of $51.80 million. Equities analysts predict that Pharming Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Pharming Group

An institutional investor recently bought a new position in Pharming Group stock. Orion Portfolio Solutions LLC acquired a new position in shares of Pharming Group (NASDAQ:PHAR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,715 shares of the company’s stock, valued at approximately $134,000. Institutional investors and hedge funds own 0.04% 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's commercialized product is RUCONEST, a plasma-free rhC1INH protein replacement therapy for the treatment acute hereditary angioedema (HAE) attacks.