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Pharming Group ( (PHAR) ) has provided an update.
On March 12, 2026, Pharming reported preliminary, unaudited results showing that full-year 2025 revenues rose 27% to US$376.1 million, driven by record RUCONEST sales and accelerating Joenja demand, with Joenja revenues up 29% and strong uptake in the U.S. and U.K. The company turned to an operating profit of US$25.8 million and generated US$54.7 million in positive operating cash flow, marking an inflection toward sustainable profitability and strengthening its capacity to fund growth.
RUCONEST revenues climbed 26% in 2025 to US$317.9 million, supported by a larger U.S. patient and prescriber base, while Joenja reached US$58.2 million as paid-therapy patients in the U.S. increased 25% and global diagnosed APDS patients reached 998 by year-end. Pharming issued 2026 revenue guidance of US$405–425 million, signaling 8–13% growth, and underscored its late-stage pipeline with planned 2026 Phase II leniolisib readouts and completion of enrollment in the pivotal FALCON study for napazimone in primary mitochondrial disease, reinforcing its positioning in the rare disease market.
The most recent analyst rating on (PHAR) stock is a Buy with a $37.00 price target. To see the full list of analyst forecasts on Pharming Group stock, see the PHAR Stock Forecast page.
Spark’s Take on PHAR Stock
According to Spark, TipRanks’ AI Analyst, PHAR is a Neutral.
The score is held back most by extremely expensive valuation (P/E 1178.8) and only middling near-term technicals (below 20/50-day averages with RSI ~41). Offsetting these, fundamentals show solid revenue/gross margin strength and improving cash flow, and the latest earnings call was constructive with raised revenue guidance and a sharp operating profit improvement, though profitability metrics (net margin and ROE) remain weak.
To see Spark’s full report on PHAR stock, click here.
More about Pharming Group
Pharming Group N.V. is a Netherlands-based biopharmaceutical company focused on rare diseases, with commercialized therapies including RUCONEST for acute hereditary angioedema (HAE) attacks and Joenja (leniolisib) for activated PI3K delta syndrome (APDS). The company generates most of its revenue from the U.S. market while expanding in Europe and other international markets, and is advancing a pipeline targeting broader primary immunodeficiencies and primary mitochondrial disease.
Average Trading Volume: 29,170
Technical Sentiment Signal: Buy
Current Market Cap: $1.11B
Find detailed analytics on PHAR stock on TipRanks’ Stock Analysis page.