Pharming price target lowered to $30 from $31 at Oppenheimer

Oppenheimer analyst Jeff Jones lowered the firm’s price target on Pharming (PHAR) to $30 from $31 and keeps an Outperform rating on the shares following quarterly results and business update. The firm notes Q3 revenues increased 12% quarter-over-quarter to $74.8M vs. its/consensus estimates of $78M/$77M, respectively, essentially flat, +1%, with Q2’s $74.1M. Management reiterated revenue 2024 guidance of $280M-$295M.