Last week, Ascendis Pharma A/S (NASDAQ:ASND) released topline data on Monday from a trial that included 84 children with achondroplasia, a genetic disorder that causes dwarfism and disproportionate short stature.

Goldman Sachs hosted an investor meeting with BioMarin Pharmaceutical Inc's (NASDAQ:BMRN) Alexander Hardy (President and CEO) and Brian Mueller (EVP, CFO).

They reiterated financial guidance after reviewing their assumptions around Voxzogo competition post-Ascendis Pharma's better-than-expected Phase 3 achondroplasia data.

Also Read: Rare Disease-Focused BioMarin Narrows Sales Focus, Cuts Cost For Hemophilia A Gene Therapy; Lifts Annual Guidance.

The analyst notes that management believes a U.S./EU launch by Ascendis Pharma could violate its C-type natriuretic peptide (CNP) patents.

However, excluding this concern, the company still expects to reach approximately $4 billion in total revenue for fiscal year 2027, driven by growing Voxzogo adoption in the U.S., aided by its broad label without lower age restrictions, which could provide a competitive edge over Ascendis Pharma.

The company is targeting an adjusted operating margin of low-to-mid 40% (starting at 40% in 2026).

The new structure, announced at an investor event, covers three key business units: skeletal conditions, enzyme therapies, and Roctavian—its hemophilia A gene therapy.

BioMarin has been implementing a $500 million "cost transformation program" to contribute to non-GAAP operating margin targets set for 2026 and beyond.

Goldman Analyst writes, "We also see external business development as a potential source of upside and diversification beyond BioMarin's guidance. Nonetheless, we note continued investor debate on the outlook given increasing competitive pressure on BioMarin's key growth driver."

The analyst maintains a Buy rating with a price target of $139.

Price Action: BMRN stock is down 0.57% at $69.09 at the last check on Wednesday.

Read Next:

• Meta Connect Leaks Reveal Affordable Quest 3S, Batman Game Bundle: Report.

Latest Ratings for BMRN

View More Analyst Ratings for BMRN

View the Latest Analyst Ratings

Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.

Get the latest stock analysis from Benzinga?

• BIOMARIN PHARMACEUTICAL (BMRN): Free Stock Analysis Report

This article BioMarin Stands Firm on 2027 Revenue Target Amid Ascendis Competition, Goldman Sachs Analyst Remains Bullish originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.