Shareholders in Taysha Gene Therapies, Inc. (NASDAQ:TSHA) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The analysts have sharply increased their revenue numbers, with a view that Taysha Gene Therapies will make substantially more sales than they'd previously expected.

After the upgrade, the consensus from Taysha Gene Therapies' ten analysts is for revenues of US$9.2m in 2024, which would reflect a sizeable 40% decline in sales compared to the last year of performance. 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

Of course, another way to look at these forecasts is to place them into context against the industry itself. 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. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 17% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Taysha Gene Therapies is expected to lag the wider industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for Taysha Gene Therapies 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 Taysha Gene Therapies.

Analysts are clearly in love with Taysha Gene Therapies at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as major dilution from new stock issuance in the past year. For more information, you can click through to our platform to learn more about this and the 1 other flag we've identified .

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.