Need To Know: Analysts Are Much More Bullish On Silence Therapeutics plc (NASDAQ:SLN) Revenues

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

Following the upgrade, the consensus from five analysts covering Silence Therapeutics is for revenues of UK£23m in 2024, implying an uneasy 19% decline in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of UK£21m in 2024. The consensus has definitely become more optimistic, showing a decent improvement in revenue forecasts.

View our latest analysis for Silence Therapeutics

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 15% by the end of 2024. This indicates a significant reduction from annual growth of 62% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 15% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Silence Therapeutics is expected to lag the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Silence Therapeutics next year. They're also anticipating slower revenue growth than the wider market. Seeing the dramatic upgrade to next year's forecasts, it might be time to take another look at Silence Therapeutics.

Analysts are definitely bullish on Silence Therapeutics, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including dilutive stock issuance over the past year. For more information, you can click through to our platform to learn more about this and the 2 other flags we've identified .

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies 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.