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 strategic growth initiatives. The company’s first-quarter financial results exceeded expectations, with total revenue reaching $79.5 million, surpassing the estimated $71.5 million. Ruconest, one of their key products, also outperformed projections, contributing significantly to the revenue.
Additionally, Pharming Group is actively expanding its market presence with Joenja, which has seen an increase in patient numbers and is undergoing trials for further indications. The company is also pursuing regulatory approvals in multiple regions, which could enhance its market reach. Furthermore, Pharming’s management is focused on improving operational efficiency by reducing general and administrative expenses, which is expected to support future growth. These factors collectively underpin Pantginis’s optimistic outlook on Pharming Group’s stock.