Analysts expect that Summit Therapeutics PLC (NASDAQ:SMMT) will announce sales of $4.91 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Summit Therapeutics’ earnings. The highest sales estimate is $10.17 million and the lowest is $2.10 million. Summit Therapeutics posted sales of $2.18 million in the same quarter last year, which would indicate a positive year over year growth rate of 125.2%. The business is expected to announce its next quarterly earnings report on Wednesday, April 4th.
On average, analysts expect that Summit Therapeutics will report full year sales of $4.91 million for the current financial year, with estimates ranging from $31.60 million to $43.26 million. For the next financial year, analysts anticipate that the firm will post sales of $20.28 million per share, with estimates ranging from $8.40 million to $42.58 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Summit Therapeutics.
Several research analysts have commented on SMMT shares. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Summit Therapeutics in a research note on Friday, December 1st. Zacks Investment Research cut Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. SunTrust Banks initiated coverage on Summit Therapeutics in a report on Thursday, January 4th. They issued a “buy” rating and a $24.00 price target on the stock. Oppenheimer raised their price target on Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, ValuEngine raised Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Summit Therapeutics currently has an average rating of “Buy” and a consensus price target of $24.17.
Shares of Summit Therapeutics (NASDAQ SMMT) traded up $0.03 during midday trading on Monday, reaching $13.83. The company’s stock had a trading volume of 15,540 shares, compared to its average volume of 94,599. Summit Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $16.86. The company has a market cap of $192.43, a P/E ratio of -137.15 and a beta of 0.93.
Several large investors have recently added to or reduced their stakes in SMMT. Susquehanna International Group LLP purchased a new stake in shares of Summit Therapeutics in the 3rd quarter valued at about $1,828,000. Granite Point Capital Management L.P. raised its holdings in shares of Summit Therapeutics by 106.7% during the 3rd quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after buying an additional 125,000 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Summit Therapeutics by 192.8% during the 4th 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 in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Summit Therapeutics during the 3rd quarter valued at about $1,004,000. Finally, Sphera Funds Management LTD. raised its holdings in shares of Summit Therapeutics by 49.3% during the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after buying an additional 70,000 shares in the last quarter. 29.03% of the stock is currently owned by hedge funds and other institutional investors.
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About Summit Therapeutics
Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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