Pharming Group Q3 revenue rises on US demand; tightens guidance
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: ID:nGNE2TR6cx
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Net Income |
| $18.90 mln |
|
9M Gross Profit |
| $243.70 mln |
|
9M Operating Profit |
| $26.30 mln |
|
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.)