The company also recently joined the Alliance for Biosecurity, which may help it ?secure government funding to support its rapid development, production, and distribution? of its COVID-19 vaccine, according to Maxim Group analysts.
HTBX Need To Know: Analysts Are Much More Bullish On Heat Biologics, Inc. (NASDAQ:HTBX) Revenues
Simply Wall St 6 mins ago
Heat Biologics, Inc. (NASDAQ:HTBX) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year?s forecasts. The revenue forecast for this year has experienced a facelift, with analysts now much more optimistic on its sales pipeline. Investors have been pretty optimistic on Heat Biologics too, with the stock up 33% to US$0.77 over the past week. It will be interesting to see if today?s upgrade is enough to propel the stock even higher.
Following the upgrade, the consensus from four analysts covering Heat Biologics is for revenues of US$1.7m in 2020, implying a stressful 49% decline in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 35% to US$0.34. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$933k and losses of US$0.35 per share in 2020. So there?s been quite a change-up of views after the recent consensus updates, with the analysts making a sizeable increase to their revenue forecasts while also reducing the estimated loss as the business grows towards breakeven.