Wall Street analysts expect that Summit Therapeutics (NASDAQ:SMMT) will announce earnings per share (EPS) of ($0.76) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Summit Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.92) and the highest estimate coming in at ($0.63). Summit Therapeutics posted earnings per share of ($0.50) during the same quarter last year, which would indicate a negative year-over-year growth rate of 52%. The business is scheduled to report its next quarterly 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 year, with EPS estimates ranging from ($4.05) to ($0.80). For the next financial year, analysts forecast that the company will post 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 sell-side research analysts that follow Summit Therapeutics.

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

Several equities analysts recently weighed in on the company. ValuEngine raised Summit Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Janney Montgomery Scott assumed coverage on Summit Therapeutics in a research report on Wednesday, May 2nd. They set a “buy” rating and a $27.00 price objective for the company. HC Wainwright set a $20.00 price objective on Summit Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Oppenheimer boosted their price objective on Summit Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, BTIG Research started coverage on Summit Therapeutics in a report on Tuesday, February 13th. They issued a “buy” rating and a $33.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.38.

Shares of NASDAQ SMMT traded down $0.05 during trading hours on Friday, hitting $13.17. 11,900 shares of the company’s stock were exchanged, compared to its average volume of 65,963. Summit Therapeutics has a 1-year low of $8.80 and a 1-year high of $16.86. The stock has a market capitalization of $186.76 million, a PE ratio of -17.68 and a beta of 0.80.

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in Summit Therapeutics by 376.0% in the 1st quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock valued at $154,000 after acquiring an additional 9,400 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Summit Therapeutics by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock valued at $1,292,000 after acquiring an additional 15,600 shares in the last quarter. Millennium Management LLC raised its holdings in Summit Therapeutics by 29.5% in the 4th quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after acquiring an additional 22,759 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Summit Therapeutics by 192.8% in the 4th quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after acquiring an additional 94,876 shares in the last quarter. 28.13% of the stock is owned by hedge funds and other institutional investors.

About Summit Therapeutics

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).

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

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