Pharming Group (NASDAQ:PHAR) Posts Earnings Results, Misses Expectations By $0.04 EPS

Pharming Group (NASDAQ:PHAR) posted its quarterly earnings data on Thursday. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04), FiscalAI reports. Pharming Group had a return on equity of 4.64% and a net margin of 3.30%.

Here are the key takeaways from Pharming Group’s conference call:

• 2026 revenue guidance was reduced by $30 million to $375 million–$395 million, reflecting continued competitive pressure on RUCONEST and a 0%–5% expected revenue growth range.
• RUCONEST revenue fell 10% year over year to $72.3 million, but management highlighted resilience in the active patient base, which remained at 93% of prior-year levels, and a recovery in new enrollments to 84 in Q2. The company expects RUCONEST revenue to stabilize and return to growth in the second half of 2026.
• JOENJA revenue grew 40% to $17.9 million, with U.S. revenue up 31% and international revenue up 150%. Growth is expected to be supported by launches in Germany and Japan, further U.S. patient identification, and potential pediatric label expansion.
• Two fully enrolled phase II studies evaluating leniolisib in broader primary immunodeficiencies and CVID are expected to produce results in Q4 2026. Positive data could expand JOENJA’s addressable population substantially—CVID is estimated to be up to 40 times larger than APDS—and support a potential blockbuster franchise.
• Pharming reduced full-year operating expense guidance by $15 million to $315 million–$320 million while continuing more than $40 million of incremental R&D investment. Q2 operating profit remained positive, but operating cash flow was negative $9.7 million and cash and marketable securities declined to $159.5 million.

Pharming Group Stock Down 10.5%

Pharming Group stock traded down $1.26 during mid-day trading on Thursday, reaching $10.75. 49,554 shares of the company’s stock were exchanged, compared to its average volume of 5,623. The company has a quick ratio of 2.06, a current ratio of 2.63 and a debt-to-equity ratio of 0.35. Pharming Group has a twelve month low of $9.62 and a twelve month high of $21.34. The company has a market cap of $760.88 million, a P/E ratio of 67.19 and a beta of -0.04. The company has a fifty day moving average of $13.07 and a 200-day moving average of $15.23.

Institutional Trading of Pharming Group

A number of large investors have recently modified their holdings of PHAR. EverSource Wealth Advisors LLC purchased a new position in Pharming Group in the second quarter valued at $32,000. SmartHarvest Portfolios LLC purchased a new stake in Pharming Group during the 4th quarter worth about $224,000. Millennium Management LLC purchased a new stake in Pharming Group during the 4th quarter worth about $360,000. Finally, NewEdge Advisors LLC raised its position in Pharming Group by 11,310.3% in the 4th quarter. NewEdge Advisors LLC now owns 28,868 shares of the company’s stock valued at $510,000 after purchasing an additional 28,615 shares in the last quarter. Hedge funds and other institutional investors own 0.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PHAR shares. Zacks Research upgraded Pharming Group from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th. Weiss Ratings cut Pharming Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Oppenheimer reiterated an “outperform” rating on shares of Pharming Group in a report on Thursday. Canaccord Genuity Group began coverage on Pharming Group in a research note on Friday, April 10th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Wall Street Zen lowered Pharming Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pharming Group currently has a consensus rating of “Hold” and a consensus price target of $38.33.

Pharming Group Company Profile

Pharming Group N.V. is a clinical-stage biopharmaceutical company headquartered in Leiden, the Netherlands, with a primary focus on developing and commercializing innovative protein replacement therapies for patients living with rare diseases. The company employs a proprietary transgenic technology platform designed to produce recombinant human proteins in the milk of transgenic animals, enabling scalable and cost-efficient manufacturing of complex therapeutic proteins.

The company’s lead product, RUCONEST (recombinant human C1 esterase inhibitor), is approved for the treatment of acute hereditary angioedema (HAE) attacks in multiple markets, including the United States and Europe.