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

Pharming Group (NASDAQ:PHAR) shares dropped 3.9% during trading on Wednesday . The company traded as low as $8.37 and last traded at $8.37. Approximately 2,259 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 4,753 shares. The stock had previously closed at $8.71.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research note on Thursday, September 26th.

Pharming Group Trading Down 3.2 %

The stock has a market cap of $567.71 million, a P/E ratio of -50.81 and a beta of 0.15. 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 firm’s fifty day simple moving average is $7.81 and its 200-day simple moving average is $8.72.

Pharming Group (NASDAQ:PHAR) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $74.09 million for 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 previous year, the company posted $0.02 earnings per share. Equities research analysts expect that Pharming Group will post -0.15 EPS 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 position in shares of Pharming Group (NASDAQ:PHAR) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 0.06% of Pharming Group worth $339,000 as of its most recent filing with the Securities & Exchange Commission. 0.03% of the stock is owned by hedge funds and other 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.