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Pharming Group ( (PHAR) ) has shared an update.
On May 7, 2026, Pharming reported preliminary unaudited first-quarter 2026 revenues of US$72.4 million, down 8% year on year, as RUCONEST® sales fell 15% to US$58.4 million amid anticipated U.S. inventory drawdowns, a planned exit from non-U.S. markets and competitive pressures. Joenja® revenues rose 34% to US$14.1 million, driven by a 25% increase in U.S. patients on paid therapy and growing international demand, allowing the company to reaffirm its 2026 total revenue guidance of US$405–425 million and generate positive net cash flow from operations.
Strategically, Pharming advanced Joenja®’s global and pediatric expansion, securing approval in Japan for APDS patients aged four and older, a positive CHMP opinion in Europe for patients 12 and above, and resubmitting its U.S. pediatric sNDA for higher doses following a January 30, 2026 Complete Response Letter. Management highlighted continued RUCONEST® patient retention despite new oral competitors, progress in the pivotal napazimone (KL1333) trial for primary mitochondrial disease, and upcoming Phase II readouts for leniolisib in broader immunodeficiencies, underscoring a pipeline and regulatory trajectory aimed at sustaining long-term growth and reinforcing the company’s position in rare disease therapeutics.
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 driven primarily by improving financial performance (return to profitability and stronger cash flow) and supportive technicals (price above key moving averages with positive momentum). These positives are offset by a very expensive valuation (extremely high P/E) and the risk implied by recent TTM revenue contraction and thin net margins.
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 developing and commercializing treatments for rare diseases. Its key marketed products include RUCONEST®, an intravenous therapy for acute hereditary angioedema (HAE) attacks, and Joenja® (leniolisib), an oral treatment for activated phosphoinositide 3-kinase delta syndrome (APDS), with a growing presence in the U.S., Europe, Japan and other core markets.
Average Trading Volume: 18,646
Technical Sentiment Signal: Buy
Current Market Cap: $1.16B
Learn more about PHAR stock on TipRanks’ Stock Analysis page.