Broker Revenue Forecasts For Cytokinetics, Incorporated (NASDAQ:CYTK) Are Surging Higher

Cytokinetics, Incorporated (NASDAQ:CYTK) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's forecasts. The revenue forecast for next year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the current consensus from Cytokinetics' ten analysts is for revenues of US$72m in 2022 which - if met - would reflect a major 232% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$48m in 2022. It looks like there's been a clear increase in optimism around Cytokinetics, given the very substantial lift in revenue forecasts.

Check out our latest analysis for Cytokinetics

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. For example, we noticed that Cytokinetics' rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 161% growth to the end of 2022 on an annualised basis. That is well above its historical decline of 18% a year over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 14% annually. So it looks like Cytokinetics is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Cytokinetics next year. Analysts also expect revenues 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 Cytokinetics.

Unsatisfied? We have analyst estimates for Cytokinetics going out to 2024, and you can see them free on our platform here.

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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.