POINT Biopharma Global Inc. (NASDAQ:PNT) Analysts Just Slashed This Year's Estimates

The latest analyst coverage could presage a bad day for POINT Biopharma Global Inc. (NASDAQ:PNT), with the analysts making across-the-board cuts to their statutory estimates that might leave shareholders a little shell-shocked. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting the analysts have soured majorly on the business.

Following the latest downgrade, the current consensus, from the ten analysts covering POINT Biopharma Global, is for revenues of US$16m in 2023, which would reflect a disturbing 93% reduction in POINT Biopharma Global's sales over the past 12 months. After this downgrade, the company is anticipated to report a loss of US$1.00 in 2023, a sharp decline from a profit over the last year. However, before this estimates update, the consensus had been expecting revenues of US$35m and US$0.81 per share in losses. Ergo, there's been a clear change in sentiment, with the analysts administering a notable cut to this year's revenue estimates, while at the same time increasing their loss per share forecasts.

Check out our latest analysis for POINT Biopharma Global

There was no major change to the consensus price target of US$17.29, signalling that the business is performing roughly in line with expectations, despite lower earnings per share forecasts.

The Bottom Line

The most important thing to note from this downgrade is that the consensus increased its forecast losses this year, suggesting all may not be well at POINT Biopharma Global. The lack of change in the price target is puzzling in light of the downgrade but, with a serious decline expected this year, we wouldn't be surprised if investors were a bit wary of POINT Biopharma Global.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for POINT Biopharma Global going out to 2025, and you can see them free on our platform here.

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