H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Pharming Group (PHAR – Research Report) today and set a price target of $37.00.
Joseph Pantginis has given his Buy rating due to a combination of factors including Pharming Group’s strong financial performance and promising growth prospects. The company reported total revenue of $297.2 million for 2024, surpassing the analyst’s estimate of $284.7 million, with Ruconest contributing $252.2 million. This indicates a robust demand for Ruconest, which saw a 24% year-over-year increase in patient enrollments.
Additionally, Joenja’s market expansion is gaining momentum, with a significant increase in U.S. patients on paid therapy. The company is actively working on expanding its addressable patient population through ongoing Phase 2 trials and regulatory filings in multiple countries. Pharming’s strategic initiatives, including the acquisition of Abliva and the upcoming FALCON trial, further bolster its long-term growth potential, supporting the Buy rating.
Pantginis covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Cytokinetics, and VYNE Therapeutics. According to TipRanks, Pantginis has an average return of -11.8% and a 25.55% success rate on recommended stocks.