It's shaping up to be a tough period for Immatics N.V.( NASDAQ:IMTX ), which a week ago released some disappointing first-quarter results that could have a notable impact on how the market views the stock. Revenues came in at €7.8m, missing analyst expectations by 14%. Statutory losses per share fell slightly short, coming in at €0.44, 6.5% below what the analysts had predicted. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Following the latest results, Immatics' nine analysts are now forecasting revenues of €41.9m in 2026. This would be a notable 12% improvement in revenue compared to the last 12 months. Per-share losses are predicted to creep up to €1.74. Before this latest report, the consensus had been expecting revenues of €37.2m and €1.60 per share in losses. So there's been quite a change-up of views after the recent consensus updates, with the analysts significantly increasing their revenue forecasts while also expecting losses per share to increase. It looks like the top line growth will not be achieved without incremental costs.
View our latest analysis for Immatics
The consensus price target stayed unchanged at US$18.78, seeming to suggest that higher forecast losses are not expected to have a long term impact on the valuation. 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 Immatics at US$25.00 per share, while the most bearish prices it at US$12.20. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The analysts are definitely expecting Immatics' growth to accelerate, with the forecast 17% annualised growth to the end of 2026 ranking favourably alongside historical growth of 5.8% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 22% per year. It seems obvious that, while the future growth outlook is brighter than the recent past, Immatics is expected to grow slower than the wider industry.
The Bottom Line
The most important thing to take away is that the analysts increased their loss per share estimates for next year. Fortunately, they also upgraded their revenue estimates, although our data indicates it is expected to perform worse than the wider industry. The consensus price target held steady at US$18.78, with the latest estimates not enough to have an impact on their price targets.
With that in mind, we wouldn't be too quick to come to a conclusion on Immatics. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Immatics going out to 2028, and you can see them free on our platform here. .
Before you take the next step you should know about the 1 warning sign for Immatics that we have uncovered.
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This article by Simply Wall St is general in nature.
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