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Pharming Group (PHARM) AI Stock Analysis
Pharming Group
(Amsterdam:PHARM)
The overall score of 73 reflects a company in a strong financial and operational turnaround, as evidenced by robust revenue growth, a return to profitability, and positive cash generation. The earnings call reinforces this positive trajectory with strong Joenja growth and pipeline progress. The primary moderating factors are the stock's overbought technical condition and a premium valuation, which suggest that much of the good news may already be priced in.
Pharming Group (PHARM) vs. iShares MSCI Netherlands ETF (EWN)
- Market Cap
- EUR 675.93M
- Dividend Yield
- ―
- Average Volume (3M)
- 8.69M
- Price to Earnings (P/E)
- 34.7
- Beta (1Y)
- 0.64
- Revenue Growth
- 1.73%
- EPS Growth
- ―
- Country
- Netherlands
- Employees
- 407
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Biotechnology
Pharming Group Business Overview & Revenue Model
Company Description
Based in Leiden, the Netherlands, Pharming Group N.V. operates as a biopharmaceutical firm dedicated to advancing and marketing protein replacement therapies and precise medical solutions. Its global efforts, spanning the United States, Europe, and o...
How the Company Makes Money
Pharming primarily makes money by selling its approved prescription medicines, generating revenue from product sales in markets where it holds commercialization rights or where products are distributed through partners. A key revenue stream has histo...
Pharming Group Earnings Call Summary
The call was predominantly positive, supported by 21% third-quarter revenue growth, 89% operating profit growth, strong Joenja momentum, RUCONEST demand stabilization, positive genetic PID data, improving cash generation, and lower full-year operating expense guidance. The main challenges were the approximately 3% expected full-year decline in RUCONEST U.S. revenue, inventory-related timing effects, manufacturing inventory impairments, the ongoing CEO search, and the need to complete FALCON enrollment.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For full year 2026, revenue guidance is $380 million to $390 million, representing 14% growth, and operating expenses guidance is $310 million to $315 million, representing 0% to 1% growth, including approximately $35 million incremental R&D investment and about $9 million of structural G&A savings; RUCONEST revenue is expected to stabilize and return to growth in the second half of 26, with RUCONEST U. S. Revenue expected to decline approximately 3% for the full year at the midpoint, while Joenja is expected to deliver significant and accelerating growth for the year and annual revenue growth in the mid-30s%, compared to 29% growth in 2025; cost of goods sold is expected to be approximately 12% of revenue, corresponding to a gross margin of 88%, and Q4 revenue is implied to be roughly $100 million to $110 million, with an initial bolus of new Joenja patients on therapy throughout Q4 in the range of 15 to 20 patients; 145 of the planned 180 FALCON participants are expected to be enrolled by the end of this year, enrollment is expected to be complete during the first half of 27, and top line results are expected approximately 1 year after enrollment is complete.
Pharming Group Financial Statement Overview
Summary
Pharming Group demonstrates a strong financial turnaround. Revenue has grown consistently to $387M TTM, with a swing to a net profit of $24.4M and robust free cash flow of $30.7M. The balance sheet is conservative with a low debt-to-equity ratio of 0.39. Profitability is sensitive to operating costs, and the TTM EBIT margin of 7.96% remains below historical highs, but the overall trajectory is clearly positive.
Income Statement
78PositiveBalance Sheet
72PositiveCash Flow
75Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 387.33M | 376.13M | 297.07M | 245.32M | 205.62M | 198.87M |
| Gross Profit | 326.66M | 330.63M | 261.80M | 220.10M | 188.06M | 165.73M |
| EBITDA | 42.95M | 34.78M | 7.55M | 9.88M | 33.53M | 33.76M |
| Net Income | 24.40M | 2.97M | -11.84M | -10.55M | 13.67M | 15.34M |
Balance Sheet | ||||||
| Total Assets | 488.40M | 500.02M | 400.61M | 462.85M | 425.80M | 397.42M |
| Cash, Cash Equivalents and Short-Term Investments | 186.42M | 179.88M | 167.82M | 213.42M | 208.58M | 191.92M |
| Total Debt | 112.61M | 115.79M | 112.26M | 171.54M | 167.69M | 161.76M |
| Total Liabilities | 201.99M | 222.89M | 178.85M | 244.07M | 221.16M | 204.45M |
| Stockholders Equity | 286.41M | 277.10M | 221.76M | 218.78M | 204.64M | 192.92M |
Cash Flow | ||||||
| Free Cash Flow | 30.72M | 51.18M | -2.58M | -18.77M | 20.92M | 22.86M |
| Operating Cash Flow | 31.59M | 51.96M | -1.79M | -17.30M | 22.90M | 31.58M |
| Investing Cash Flow | -84.63M | 19.13M | 32.74M | -129.39M | 5.32M | -23.06M |
| Financing Cash Flow | -5.74M | 15.03M | -35.63M | -1.04M | -4.98M | -22.54M |
Pharming Group Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:PHARM, the sentiment is Positive. The current price of 1.13 is above the 20-day moving average (MA) of 0.92, above the 50-day MA of 0.94, and below the 200-day MA of 1.18, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 73.88 is Negative, neither overbought nor oversold. The STOCH value of 92.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:PHARM.
Pharming Group Risk Analysis
Pharming Group disclosed 63 risk factors in its most recent earnings report. Pharming Group reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskPharming Group Peers Comparison
Overall Rating
NL:LKFT74Outperform- NL:PHARM73Outperform
NL:VVY40Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| NL:LKFT | 74Outperform | EUR 1.91B | 3.91 | 16.88% | ― | 259.41% | ― |
| NL:PHARM | 73Outperform | EUR 771.13M | 34.69 | 8.96% | ― | 1.73% | ― |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| NL:VVY | 40Underperform | EUR 23.75M | -3.49 | -215.13% | ― | ― | 51.44% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| NL:PHARM | Pharming Group N.V. | 1.09 | -0.05 | -4.56% | |
| NL:LKFT | Lakefront Biotherapeutics Nv | 28.92 | 2.44 | 9.21% | |
| NL:VVY | Vivoryon Therapeutics AG | 0.80 | -0.84 | -51.04% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 29, 2026