Published on 7 May 2024 on Simply Wall St. via Yahoo Finance
Upgrade: Analysts Just Made A Massive Increase To Their Bicycle Therapeutics plc (NASDAQ:BCYC)...
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.