Published on 3 May 2024 on Simply Wall St. via 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.