Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price11.87 USD
Fair value6.95
Ethical score70.0/100
Our investment reviews on this name
2026-10-28Read Accumulation10.67+11.2% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown10.81+9.8% to today Accumulation gives way to Markdown
2026-09-09Read Accumulation11.11+6.8% to today ✓Distribution gives way to Accumulation after a 13% slide in 10 weeks
2026-07-02Read Distribution12.81-7.3% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Pharming Group N.V. holds its Accumulation at $11.87. The statistical read favours the buyers, held for 40 days.
As held on the ledger · 2026-10-27
Phase
Accumulation
Quantitative state
The statistical read favours the buyers, held for 40 days
Price at the screen
$11.87
Valuation
82.08 trailing · 27.71 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.07
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
23.16%
Below 33%
Interest-bearing debt is just 23.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
6.76%
Below 33%
Cash held in interest-bearing accounts and securities is 6.8% of assets, under the one-third limit.
Pass
Receivables
37.42%
Below 49%
Money owed to the company is 37.4% of assets, under the 49% limit.
Pass
Revenue purity
0.58%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Pharming clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 23%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Today PHAR passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-27 screen. The gold marker is the market price at the same screen. The price runs 34.9% above the base estimate.
Third-party analyst targets: 4 covering, consensus Strong Buy. The average target sits +216% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-27 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Netherlands and to currency swings; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PHAR trades on Nasdaq (the company is based in Netherlands). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 10.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
2026-10-21Markdown$9.63-10.9%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
2026-10-02Markdown · changed$10.81-2.7%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 17.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
2026-08-08Distribution$13.47+5.2%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 5.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
2026-07-18Distribution$12.81+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (4 analysts) rates it strong buy, with a mean price target of $34.
2026-07-03Distribution$12.81+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Distribution$12.81Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.