H.C. Wainwright calls Pharming ‘nice stocking stuffer’ after deal

H.C. Wainwright reiterates a Buy rating on Pharming (PHAR) with a $37 price target after the company announced its intention to acquire Abliva AB for $66.1M. The firm believes the acquisition is “poised for smooth approval.” Pharming’s proven expertise in rare disease drug development and Abliva’s specialized focus on mitochondrial disorders “set the stage for synergistic success,” the analyst tells investors in a research note. H.C. Wainwright believes KL1333, currently in a pivotal clinical trial, “could significantly enhance Pharming’s late-stage pipeline while leveraging both companies’ complementary skillsets and infrastructure.” It thinks KL1333 is poised to address primary mitochondrial disease and calls Pharming a “nice stocking stuffer” for its pipeline.