New Forecasts: Here's What Analysts Think The Future Holds For Myovant Sciences Ltd. (NYSE:MYOV)

Myovant Sciences Ltd. (NYSE:MYOV) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with analysts modelling a real improvement in business performance.

Following the upgrade, the current forecast from Myovant Sciences' seven analysts is for revenues of US$289m in 2022, which would reflect a huge improvement in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 38% to US$1.66. Yet before this consensus update, the analysts had been forecasting revenues of US$161m and losses of US$2.19 per share in 2022. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to next year's revenue estimates, while at the same time reducing their loss estimates.

See our latest analysis for Myovant Sciences

There was no major change to the consensus price target of US$35.86, perhaps suggesting that the analysts remain concerned about ongoing losses despite the improved earnings and revenue outlook. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Myovant Sciences at US$55.00 per share, while the most bearish prices it at US$26.00. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

The Bottom Line

The most important thing here is that analysts reduced their loss per share estimates for next year, reflecting increased optimism around Myovant Sciences' prospects. Some investors might be disappointed to see that the price target is unchanged, but we feel that improving fundamentals are usually a positive - assuming these forecasts are met! So Myovant Sciences could be a good candidate for more research.

Still, the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Myovant Sciences going out to 2025, and you can see them free on our platform here..

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