As previously reported, Canaccord analyst Whitney Ijem initiated coverage of Pharming with a Buy rating and $37 price target. Lead product Ruconest, a complex biologic approved in the U.S. since 2014 for the on-demand treatment of hereditary angioedema attacks, will see its IP expire in 2026 and the HAE competitive landscape is evolving, notes the analyst. However, the firm continues to model growth in the near-to-medium term, given that it doesn't anticipate biosimilar competition given the proprietary, transgenic rabbit-based manufacturing process and Ruconest's high-efficacy product profile, the analyst tells investors.
