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Celebrations may be in order for Curis, Inc. (NASDAQ:CRIS) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that Curis will make substantially more sales than they'd previously expected.
Following the latest upgrade, Curis' six analysts currently expect revenues in 2024 to be US$10m, approximately in line with the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$8.8m in 2024. It looks like there's been a clear increase in optimism around Curis, given the nice gain to revenue forecasts.
See our latest analysis for Curis
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Curis' past performance and to peers in the same industry. One more thing stood out to us about these estimates, and it's the idea that Curis' decline is expected to accelerate, with revenues forecast to fall at an annualised rate of 1.3% to the end of 2024. This tops off a historical decline of 0.3% a year over the past five years. Compare this against analyst estimates for companies in the broader industry, which suggest that revenues (in aggregate) are expected to grow 18% annually. So while a broad number of companies are forecast to grow, unfortunately Curis is expected to see its sales affected worse than other companies in the 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 also expect company revenue to perform worse than the wider market. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at Curis.
These earnings upgrades look like a sterling endorsement, but before diving in - you should know that we've spotted 4 potential flags with Curis, including a short cash runway. You can learn more, and discover the 2 other flags 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 backed by insiders.
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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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com