Pharming Group NV: Buy Recommendation Boosted by Optimistic Outlook

First Berlin Equity Research has updated its outlook on Pharming Group NV, maintaining a "Buy" recommendation while raising the price target from EUR 1.70 to EUR 2.30. This update follows Pharming's promising Q4/24 results and strategic advancements.

In March, Pharming launched a second phase II trial for leniolisib targeting CVID, broadening its application from APDS. The potential patient pool for these indications is significantly larger, adding commercial viability to leniolisib's portfolio.

Additionally, Pharming completed the acquisition of Abliva and its drug candidate, KL1333, which is in a pivotal trial phase. KL1333 targets mitochondrial diseases and could generate over USD 1 billion in annual revenue if approved.

This acquisition will increase 2025 operational costs but is anticipated to yield substantial long-term benefits, positioning Pharming for future growth.