Not really. Because a handbrake works on the back wheels only, it's far from effective stopping a car at speed. It's not like you'll be face smashing the windscreen, it takes a really long time to stop and you have to be careful to not overdo it and lock the back wheels. It's really a last resort thing.
However it should be sufficient to stop a car from 10mph in short order. Especially on a Ferrari with its big wide tyres.
On my old cars I've often engaged it in my driveway while still moving. And of course one would press the clutch when getting close to stop :) before that the engine will actually help brake.