Need To Know: Analysts Are Much More Bullish On Entrada Therapeutics, Inc. (NASDAQ:TRDA)

Entrada Therapeutics, Inc. (NASDAQ:TRDA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with the analysts modelling a real improvement in business performance.

Following the upgrade, the latest consensus from Entrada Therapeutics' four analysts is for revenues of US$60m in 2023, which would reflect a substantial 138% improvement in sales compared to the last 12 months. Losses are expected to be contained, narrowing 13% from last year to US$2.09. Yet before this consensus update, the analysts had been forecasting revenues of US$47m and losses of US$2.63 per share in 2023. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to this year's revenue estimates, while at the same time reducing their loss estimates.

View our latest analysis for Entrada Therapeutics

The Bottom Line

The most important thing here is that analysts reduced their loss per share estimates for this year, reflecting increased optimism around Entrada Therapeutics' prospects. With a serious upgrade to expectations, it might be time to take another look at Entrada Therapeutics.

Analysts are clearly in love with Entrada Therapeutics at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as dilutive stock issuance over the past year. You can learn more, and discover the 3 other concerns we've identified, for free on our platform here.

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.

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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.