Summit Therapeutics (SMMT) Set to Announce Quarterly Earnings on Wednesday

Summit Therapeutics (NASDAQ:SMMT) will be issuing its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Summit Therapeutics (NASDAQ:SMMT) last released its earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $0.20 million during the quarter. On average, analysts expect Summit Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Summit Therapeutics Price Performance

NASDAQ:SMMT opened at $3.86 on Monday. The stock has a fifty day moving average price of $4.06 and a 200-day moving average price of $3.18. The company has a current ratio of 9.30, a quick ratio of 9.30 and a debt-to-equity ratio of 1.29. Summit Therapeutics has a fifty-two week low of $1.30 and a fifty-two week high of $5.22.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra bought 100,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was acquired at an average price of $3.75 per share, with a total value of $375,000.00. Following the acquisition, the chief financial officer now directly owns 354,958 shares in the company, valued at $1,331,092.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Ankur Dhingra purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $3.75 per share, with a total value of $375,000.00. Following the completion of the purchase, the chief financial officer now owns 354,958 shares in the company, valued at approximately $1,331,092.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mahkam Zanganeh purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $3.75 per share, with a total value of $112,500.00. Following the purchase, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $112,500. The disclosure for this purchase can be found here. Insiders own 83.70% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus began coverage on Summit Therapeutics in a research report on Tuesday, March 26th. They set a “buy” rating and a $8.00 price objective for the company.

About Summit Therapeutics

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.