Yahoo Finance Broker Revenue Forecasts For Poseida Therapeutics, Inc. (NASDAQ:PSTX) Are Surging Higher
Poseida Therapeutics, Inc. (NASDAQ:PSTX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. The market may be pricing in some blue sky too, with the share price gaining 36% to US$2.79 in the last 7 days. We'll be curious to see if these new estimates convince the market to lift the stock price higher still.
After the upgrade, the consensus from Poseida Therapeutics' three analysts is for revenues of US$53m in 2024, which would reflect an uncomfortable 18% decline in sales compared to the last year of performance. Losses are supposed to balloon 32% to US$1.69 per share. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$47m and losses of US$1.72 per share in 2024. So there's been quite a change-up of views after the recent consensus updates, withthe analysts noticeably increasing their revenue forecasts while also expecting losses per share to hold steady.
Check out our latest analysis for Poseida Therapeutics
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 18% by the end of 2024. This indicates a significant reduction from annual growth of 70% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 18% annually for the foreseeable future. It's pretty clear that Poseida Therapeutics' revenues are expected to perform substantially worse than the wider industry.
The Bottom Line
The most important thing here is that analysts reduced their loss per share estimates for this year, reflecting increased optimism around Poseida Therapeutics' prospects. Pleasantly, analysts also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow slower than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Poseida Therapeutics.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Poseida Therapeutics analysts - going out to 2026, and you can see them free on our platform here.
Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks that insiders are buying.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
