Pharming Group (NASDAQ:PHAR – Get Free Report)’s stock price dropped 3.5% during mid-day trading on Thursday . The company traded as low as $7.50 and last traded at $7.72. Approximately 1,838 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,280 shares. The stock had previously closed at $8.00.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Pharming Group in a research report on Thursday, August 1st.
Get Our Latest Stock Report on Pharming Group
Pharming Group Stock Performance
Pharming Group (NASDAQ:PHAR – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. The company had revenue of $74.09 million for the quarter, compared to analyst estimates 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 business earned $0.02 earnings per share. As a group, research analysts forecast that Pharming Group will post -0.03 EPS for the current year.
Institutional Inflows and Outflows
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 – Free Report) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.03% of the company’s stock.
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.
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