First Berlin reiterates Buy on Pharming Group, maintains EUR 2.20 price target
PHAR•First Berlin reiterated its Buy rating on Pharming Group and maintained a 12-month price target of EUR 2.20, implying 102% upside. Third-quarter Ruconest revenue was USD 94 million, and the company narrowed its 2026 revenue guidance to USD 380 million–USD 390 million.
1. Rating and results
First Berlin Equity Research reiterated its Buy rating on Pharming Group on Oct. 29, 2026. Analyst Simon Scholes maintained a 12-month price target of EUR 2.20, implying 102% upside. Third-quarter 2026 Ruconest revenue reached USD 94 million, beating consensus of USD 82 million, while EBIT totaled USD 29.9 million, above First Berlin’s USD 26.8 million estimate.
2. Revenue guidance
Pharming narrowed its full-year 2026 revenue guidance to USD 380 million–USD 390 million from USD 375 million–USD 395 million.
