BioMarin Stands Firm on 2027 Revenue Target Amid Ascendis Competition, Goldman Sachs Analyst Remains Bullish
Portfolio Pulse from Vandana Singh
BioMarin Pharmaceutical Inc. remains confident in its 2027 revenue target despite competition from Ascendis Pharma. Goldman Sachs maintains a Buy rating on BioMarin, highlighting potential growth from Voxzogo and external business development. BioMarin is implementing a cost transformation program to achieve its financial goals.
September 25, 2024 | 7:50 pm
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POSITIVE IMPACT
BioMarin is confident in reaching its 2027 revenue target of $4 billion, driven by Voxzogo's growth. Despite competition from Ascendis, Goldman Sachs maintains a Buy rating with a $139 price target. BioMarin's cost transformation program aims to improve operating margins.
BioMarin's confidence in its revenue target and Goldman Sachs' Buy rating suggest positive sentiment. The cost transformation program and Voxzogo's growth potential are key factors supporting this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Ascendis Pharma's recent Phase 3 data on achondroplasia poses competitive pressure on BioMarin. However, BioMarin's broad label for Voxzogo may provide a competitive edge. Ascendis' potential U.S./EU launch could face patent challenges.
Ascendis' Phase 3 data introduces competition for BioMarin, but potential patent issues and BioMarin's broad label for Voxzogo may mitigate impact. The situation remains competitive but uncertain.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70