Analysts Are Betting On BioInvent International AB (publ) (STO:BINV) With A Big Upgrade This Week

BioInvent International AB (publ) (STO:BINV) 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 BioInvent International will make substantially more sales than they'd previously expected.

Following the upgrade, the consensus from dual analysts covering BioInvent International is for revenues of kr59m in 2023, implying a disturbing 81% decline in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of kr48m in 2023. It looks like there's been a clear increase in optimism around BioInvent International, given the considerable lift to revenue forecasts.

See our latest analysis for BioInvent International

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. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 74% by the end of 2023. This indicates a significant reduction from annual growth of 33% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 21% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - BioInvent International is expected to lag the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for next year. They also expect company revenue to perform worse than the wider market. Seeing the dramatic upgrade to next year's forecasts, it might be time to take another look at BioInvent International.

That's a pretty serious upgrade, but shareholders might be even more pleased to know that forecasts expect BioInvent International to be able to reach break-even within the next few years. For more information, you can click through to our free platform to learn more about these forecasts.

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 that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.