Pharming Group Q3 revenue rises on US demand; tightens guidance

Overview

• Netherlands biotech firm's preliminary Q3 revenue rose 21% yr/yr

• RUCONEST revenue up 14% and Joenja revenue up 58%, driven by demand and new launches

• Operating profit nearly doubled, rising 89% yr/yr

Outlook

• Pharming tightens 2026 revenue guidance to $380 mln-$390 mln from $375 mln-$395 mln

• Company expects 2026 operating expenses of $310 mln-$315 mln, including $35 mln extra R&D investment

• Company expects RUCONEST revenue stabilization and return to growth in H2 2026

Result Drivers

• RUCONEST DEMAND STABILIZATION - Co said RUCONEST revenue growth was driven by stabilized U.S. demand, strong retention in high-burden patient segment, and new patient/prescriber additions

• JOENJA LAUNCHES AND DEMAND - Co attributed Joenja revenue growth to launches in Germany and Japan, increased U.S. uptake, and expanded pediatric dosing

• GROSS PROFIT IMPACT - Gross profit rose mainly due to higher revenues, partially offset by manufacturing-related inventory impairments

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy."

• Wall Street's median 12-month price target for Pharming Group N.V. is €2.00, about 89.8% above its October 26 closing price of €1.05

• The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 21 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)