Winst gevend schreef op 13 november 2023 13:24:
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H.C. Wainwright, Nov 10, 2023, 06:07 PMIn a report released today, Joseph Pantginis from H.C. Wainwright
reiterated a Buy rating on Pharming Group (PHAR – Research Report),
with a price target of $37.00.
Joseph Pantginis’s Buy rating for Pharming Group is largely influenced by a variety of elements.
Pantginis’s positive view stems from the company’s increasing global regulatory traction for Leniolisib,
with the possibility of receiving two international approvals in 2024.
This is especially relevant considering the recent update
from the European Medicines Agency’s (EMA) Committee for Human Medicinal Products (CHMP)
pertaining to Leniolisib’s European Marketing Authorization Application (MAA) submission.
Furthermore, the company’s expectation to receive a decision on the MAA in the first quarter of 2024,
though slightly delayed, is seen as a minor setback and is common in the industry.
Additionally, the company’s plan to submit a MAA with the UK Medicines
and Healthcare products Regulatory Agency (MHRA) is also noted.
Pantginis also takes into account the successful launch of Joenja (Leniolisib) and its strong initial performance.
The drug, which is the first and only treatment for adult and pediatric patients 12 years and older with APDS,
has seen significant enrollment and uptake in paid therapy since its launch.
The company’s continued efforts to progress Leniolisib through regulatory pathways globally,
as well as its ongoing development of pediatric clinical trials and,
the anticipation of a second indication for Leniolisib, further reinforce Pantginis’s optimistic view.Finally, Pharming Group’s active exploration of in-licensing and acquisition opportunities,
which can potentially enhance its portfolio, is also factored into the Buy rating.