Optimistic Buy Rating on Pharming Group Backed by Promising Leniolisib Trials and Strategic Market Expansion

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Pharming Group (PHAR – Research Report), with a price target of $37.00.

Joseph Pantginis has given his Buy rating due to a combination of factors surrounding the Pharming Group’s recent developments and potential for growth. One key factor is the completion of patient enrollment in a Phase 3 trial for leniolisib, a treatment for activated phosphoinositide 3-kinase delta syndrome (APDS) in a pediatric population. This significant milestone indicates potential future regulatory filings and the expansion of leniolisib’s use to younger patients. The data from older populations suggest that the clinical outcomes for these younger patients will be positive, supporting the company’s plans to seek regulatory approval for pediatric use beginning in 2025.

Furthermore, Pantginis’s recommendation reflects the company’s efforts in broadening the patient base for their product, Joenja, which recently received FDA approval for treating APDS in adults and older children. The data presented at the AAAAI ’24 meeting indicates a strong scientific and clinical foundation behind leniolisib. The focus on identifying genetic features and variants of unknown significance (VUS) in patients with APDS through the navigateAPDS program demonstrates a commitment to understanding the disease and enhancing the product’s market potential. This strategy is likely to contribute to long-term growth and patient accrual, bolstering confidence in the stock’s future performance.

Pantginis covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Viking Therapeutics, and Cytokinetics. According to TipRanks, Pantginis has an average return of 15.2% and a 45.00% success rate on recommended stocks.

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Pharming Group (PHAR) Company Description:

Pharming Group is engaged in the development of products for the treatment of unmet medical needs. The company focuses on the development and production of human therapeutic proteins to provide life-changing solutions to patients. Its product includes Ruconest. Most of the revenue generated from the United States.