-$0.76 Earnings Per Share Expected for Summit Therapeutics (SMMT) This Quarter

Brokerages expect that Summit Therapeutics (NASDAQ:SMMT) will report ($0.76) earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Summit Therapeutics’ earnings. The lowest EPS estimate is ($0.92) and the highest is ($0.63). Summit Therapeutics reported earnings per share of ($0.50) in the same quarter last year, which would suggest a negative year-over-year growth rate of 52%. The firm is expected to announce its next earnings report on Wednesday, June 13th.

On average, analysts expect that Summit Therapeutics will report full-year earnings of ($2.46) per share for the current fiscal year, with EPS estimates ranging from ($4.05) to ($0.80). For the next year, analysts forecast that the firm will report earnings of ($3.39) per share, with EPS estimates ranging from ($4.65) to ($1.10). Zacks’ earnings per share averages are an average based on a survey of analysts that cover Summit Therapeutics.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Wednesday, April 11th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.34). Summit Therapeutics had a negative net margin of 30.89% and a negative return on equity of 146.46%. The firm had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.91 million.

SMMT has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 7th. HC Wainwright set a $20.00 price target on shares of Summit Therapeutics and gave the company a “buy” rating in a report on Wednesday, April 18th. BTIG Research began coverage on shares of Summit Therapeutics in a report on Tuesday, February 13th. They set a “buy” rating and a $33.00 price target on the stock. Needham & Company LLC lowered their price target on shares of Summit Therapeutics from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 12th. Finally, Oppenheimer lifted their price target on shares of Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Summit Therapeutics has a consensus rating of “Buy” and an average price target of $25.38.

SMMT traded down $0.01 on Tuesday, hitting $13.74. 11,177 shares of the stock traded hands, compared to its average volume of 43,865. Summit Therapeutics has a 52 week low of $8.80 and a 52 week high of $16.86. The firm has a market capitalization of $190.22, a price-to-earnings ratio of -18.32 and a beta of 0.80.

Several institutional investors have recently added to or reduced their stakes in SMMT. Millennium Management LLC raised its position in shares of Summit Therapeutics by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after buying an additional 22,759 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Summit Therapeutics by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock valued at $1,292,000 after buying an additional 15,600 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Summit Therapeutics by 192.8% during the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after buying an additional 94,876 shares during the last quarter. Hedge funds and other institutional investors own 28.98% of the company’s stock.

Summit Therapeutics Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

Get a free copy of the Zacks research report on Summit Therapeutics (SMMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Summit Therapeutics (NASDAQ:SMMT)

Receive News & Ratings for Summit Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply