Yahoo Finance Upgrade: Analysts Just Made A Massive Increase To Their Bicycle Therapeutics plc (NASDAQ:BCYC) Forecasts
Bicycle Therapeutics plc (NASDAQ:BCYC) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus statutory numbers for both revenue and earnings per share (EPS) increased, with their view clearly much more bullish on the company's business prospects.
Following the latest upgrade, the twelve analysts covering Bicycle Therapeutics provided consensus estimates of US$38m revenue in 2024, which would reflect a not inconsiderable 8.0% decline on its sales over the past 12 months. Per-share losses are expected to see a sharp uptick, reaching US$4.51. Yet before this consensus update, the analysts had been forecasting revenues of US$28m and losses of US$5.30 per share in 2024. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to this year's revenue estimates, while at the same time reducing their loss estimates.
See our latest analysis for Bicycle Therapeutics
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would highlight that sales are expected to reverse, with a forecast 11% annualised revenue decline to the end of 2024. That is a notable change from historical growth of 25% 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 Bicycle Therapeutics' revenues are expected to perform substantially worse than the wider industry.
The Bottom Line
The highlight for us was that the consensus reduced its estimated losses this year, perhaps suggesting Bicycle Therapeutics is moving incrementally towards profitability. Fortunately, they also upgraded their revenue estimates, and are forecasting revenues to grow slower than the wider market. The clear improvement in sentiment should be enough to get most shareholders feeling more optimistic about Bicycle Therapeutics' future.
Still, the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Bicycle 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
