Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Pharming Group (PHAR – Research Report), retaining the price target of $37.00.
Joseph Pantginis has given his Buy rating due to a combination of factors including the recent endorsement by the National Institute for Health and Care Excellence (NICE) for Pharming Group’s drug, Joenja. This recommendation enhances Joenja’s accessibility within the UK, particularly for patients with activated phosphoinositide 3-kinase delta syndrome (APDS), and is backed by strong clinical evidence of its efficacy and safety.
Furthermore, Pharming Group is actively expanding Joenja’s potential applications, as evidenced by the initiation of a Phase 2 trial for common variable immunodeficiency and ongoing pediatric trials. These efforts are expected to broaden the drug’s market reach and drive revenue growth. Additionally, Pharming is pursuing regulatory approvals in various regions, which could further bolster its commercial prospects. The valuation of Pharming is supported by a clinical net present value model, with significant contributions from both Ruconest and Joenja, indicating the company is currently undervalued.
According to TipRanks, Pantginis is an analyst with an average return of -19.8% and a 22.78% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Cytokinetics, and Lexicon Pharmaceuticals.