Published on 9 Nov 2023 on Simply Wall St. via Yahoo Finance
Need To Know: Analysts Are Much More Bullish On Tango Therapeutics, Inc. (NASDAQ:TNGX) Revenues
Tango Therapeutics, Inc. (NASDAQ:TNGX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Tango Therapeutics will make substantially more sales than they'd previously expected. Investor sentiment seems to be improving too, with the share price up 8.9% to US$8.94 over the past 7 days. It will be interesting to see if this latest upgrade is enough to kickstart further buying interest in the stock.
Following the latest upgrade, the five analysts covering Tango Therapeutics provided consensus estimates of US$32m revenue in 2024, which would reflect a small 6.0% decline on its sales over the past 12 months. Per-share losses are expected to explode, reaching US$1.36 per share. However, before this estimates update, the consensus had been expecting revenues of US$28m and US$1.44 per share in losses. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to next year's revenue estimates, while at the same time reducing their loss estimates.
View our latest analysis for Tango Therapeutics