Yahoo Finance Broker Revenue Forecasts For Nurix Therapeutics, Inc. (NASDAQ:NRIX) Are Surging Higher
Nurix Therapeutics, Inc. (NASDAQ:NRIX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Nurix Therapeutics will make substantially more sales than they'd previously expected.
After this upgrade, Nurix Therapeutics' five analysts are now forecasting revenues of US$40m in 2021. This would be a substantial 127% improvement in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 39% to US$1.69. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$37m and losses of US$1.73 per share in 2021. 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 Nurix Therapeutics
The consensus price target rose 11% to US$51.60, with the analysts encouraged by the higher revenue and lower forecast losses for this year. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Nurix Therapeutics, with the most bullish analyst valuing it at US$60.00 and the most bearish at US$44.00 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. One thing stands out from these estimates, which is that Nurix Therapeutics is forecast to grow faster in the future than it has in the past, with revenues expected to grow 127%. If achieved, this would be a much better result than the 43% annual decline over the past year. Compare this against analyst estimates for the wider industry, which suggest that (in aggregate) industry revenues are expected to grow 21% next year. So it looks like Nurix Therapeutics is expected to grow faster than its competitors, at least for a while.
The Bottom Line
The highlight for us was that the consensus reduced its estimated losses this year, perhaps suggesting Nurix Therapeutics is moving incrementally towards profitability. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. There was also an increase in the price target, suggesting that there is more optimism baked into the forecasts than there was previously. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Nurix Therapeutics.
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 Nurix Therapeutics going out to 2025, and you can see them free on our platform here..
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This article by Simply Wall St is general in nature. 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.
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