Industry Analysts Just Upgraded Their AnaptysBio, Inc. (NASDAQ:ANAB) Revenue Forecasts By 16%

Shareholders in AnaptysBio, Inc. (NASDAQ:ANAB) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the latest consensus from AnaptysBio's ten analysts is for revenues of US$41m in 2024, which would reflect a sizeable 80% improvement in sales compared to the last 12 months. Losses are forecast to hold steady at around US$5.90 per share. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$36m and losses of US$6.02 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.

View our latest analysis for AnaptysBio

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There was no major change to the consensus price target of US$43.78, perhaps suggesting that the analysts remain concerned about ongoing losses despite the improved earnings and revenue outlook.

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. For example, we noticed that AnaptysBio's rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 119% growth to the end of 2024 on an annualised basis. That is well above its historical decline of 0.5% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 18% per year. So it looks like AnaptysBio is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The most important thing here is that analysts reduced their loss per share estimates for this year, reflecting increased optimism around AnaptysBio's prospects. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at AnaptysBio.

Analysts are clearly in love with AnaptysBio at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as recent substantial insider selling. For more information, you can click through to our platform to learn more about this and the 4 other risks we've identified .

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 with high insider ownership.

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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.