Yahoo Finance uniQure N.V. (NASDAQ:QURE) Analysts Are Cutting Their Estimates: Here's What You Need To Know
uniQure N.V. (NASDAQ:QURE) just released its latest quarterly results and things are looking bullish. Revenues of US$11m beat estimates by a substantial 65% margin. Unfortunately, uniQure also reported a statutory loss of US$1.15 per share, which at least was smaller than the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
Check out our latest analysis for uniQure
Taking into account the latest results, the most recent consensus for uniQure from eleven analysts is for revenues of US$46.0m in 2024. If met, it would imply a huge 66% increase on its revenue over the past 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 23% to US$4.51. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$52.3m and losses of US$4.49 per share in 2024. So there's been quite a change-up of views after the recent consensus updates, withthe analysts making a serious cut to their revenue forecasts while also making no real change to the loss per share numbers.
The consensus price target was broadly unchanged at US$19.00, implying that the business is performing roughly in line with expectations, despite a downwards adjustment to forecast revenue next year. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values uniQure at US$28.33 per share, while the most bearish prices it at US$6.06. We would probably assign less value to the analyst forecasts in this situation, because such a wide range of estimates could imply that the future of this business is difficult to value accurately. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates.
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. The analysts are definitely expecting uniQure's growth to accelerate, with the forecast 175% annualised growth to the end of 2024 ranking favourably alongside historical growth of 6.9% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 18% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that uniQure is expected to grow much faster than its industry.
The Bottom Line
The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. They also downgraded uniQure's revenue estimates, but industry data suggests that it is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for uniQure going out to 2026, and you can see them free on our platform here..
You still need to take note of risks, for example - uniQure has 3 warning signs (and 1 which doesn't sit too well with us) we think you should know about.
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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.
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