Industry Analysts Just Made A Substantial Upgrade To Their Kymera Therapeutics, Inc. (NASDAQ:KYMR) Revenue Forecasts

Kymera Therapeutics, Inc. (NASDAQ:KYMR) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

After this upgrade, Kymera Therapeutics' 18 analysts are now forecasting revenues of US$82m in 2023. This would be a huge 59% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing US$69m of revenue in 2023. It looks like there's been a clear increase in optimism around Kymera Therapeutics, given the nice increase in revenue forecasts.

See our latest analysis for Kymera Therapeutics

We'd point out that there was no major changes to their price target of US$54.76, suggesting the latest estimates were not enough to shift their view on the value of the business.

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. It's clear from the latest estimates that Kymera Therapeutics' rate of growth is expected to accelerate meaningfully, with the forecast 153% annualised revenue growth to the end of 2023 noticeably faster than its historical growth of 18% p.a. over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 15% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Kymera Therapeutics is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. The analysts also expect revenues to grow faster than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Kymera Therapeutics.

Looking to learn more? We have analyst estimates for Kymera Therapeutics going out to 2025, and you can see them free on our platform here.

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.