Growth Investors: Industry Analysts Just Upgraded Their Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Revenue Forecasts By 23%

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the consensus from ten analysts covering Taysha Gene Therapies is for revenues of US$9.2m in 2024, implying a stressful 40% decline in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$7.5m in 2024. It looks like there's been a clear increase in optimism around Taysha Gene Therapies, given the chunky increase in revenue forecasts.

View our latest analysis for Taysha Gene Therapies

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 40% by the end of 2024. This indicates a significant reduction from annual growth of 134% over the last three years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 17% per year. It's pretty clear that Taysha Gene Therapies' revenues are expected to perform substantially worse than the wider industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also anticipating slower revenue growth than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Taysha Gene Therapies.

Analysts are definitely bullish on Taysha Gene Therapies, but no company is perfect. Indeed, you should know that there are several potential concerns to be aware of, including major dilution from new stock issuance in the past year. You can learn more, and discover the 1 other risk we've identified, for 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.