Pharming price target lowered to $41 from $42 at Oppenheimer

Oppenheimer lowered the firm’s price target on Pharming (PHAR) to $41 from $42 and keeps an Outperform rating on the shares. The firm notes the company reported solid Q4 and full-year results. Joenja exceeded Oppenheimer’s expectations for Q4, while Ruconest growth continues to grow despite the launch of oral competitor, which the firm believes is driven by its strong efficacy and differentiated patient population. Oppenheimer is encouraged by continued execution on both the commercial and development front with multiple potential approvals for Joenja in 2026 likely.