Summit Therapeutics PLC (SMMT) Expected to Post Quarterly Sales of $4.67 Million

Wall Street analysts expect that Summit Therapeutics PLC (NASDAQ:SMMT) will post $4.67 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Summit Therapeutics’ earnings. The lowest sales estimate is $2.10 million and the highest is $9.80 million. Summit Therapeutics posted sales of $2.18 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 114.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 4th.

On average, analysts expect that Summit Therapeutics will report full-year sales of $4.67 million for the current year, with estimates ranging from $30.89 million to $41.70 million. For the next year, analysts forecast that the firm will report sales of $19.24 million per share, with estimates ranging from $8.40 million to $40.86 million. Zacks’ sales averages are an average based on a survey of research firms that cover Summit Therapeutics.

Summit Therapeutics (NASDAQ:SMMT) last announced its earnings results on Wednesday, December 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.53. Summit Therapeutics had a negative return on equity of 10.90% and a negative net margin of 0.95%.

Several research analysts have issued reports on SMMT shares. Canaccord Genuity restated a “buy” rating on shares of Summit Therapeutics in a research report on Monday, October 16th. Oppenheimer restated a “buy” rating and set a $24.00 target price on shares of Summit Therapeutics in a research report on Monday, October 16th. HC Wainwright set a $16.00 target price on Summit Therapeutics and gave the company a “buy” rating in a research report on Wednesday, December 27th. SunTrust Banks started coverage on Summit Therapeutics in a research report on Thursday, January 4th. They set a “buy” rating and a $24.00 target price for the company. Finally, Zacks Investment Research upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Summit Therapeutics presently has an average rating of “Buy” and an average price target of $21.20.

Institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new stake in shares of Summit Therapeutics during the third quarter valued at approximately $628,000. Highbridge Capital Management LLC bought a new stake in shares of Summit Therapeutics during the third quarter valued at approximately $1,004,000. Acadian Asset Management LLC raised its stake 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 acquiring an additional 94,876 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Summit Therapeutics during the third quarter valued at approximately $1,828,000. Finally, Sphera Funds Management LTD. raised its stake in shares of Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after acquiring an additional 70,000 shares in the last quarter. 29.30% of the stock is owned by hedge funds and other institutional investors.

Shares of Summit Therapeutics (NASDAQ SMMT) traded up $0.26 during trading hours on Friday, hitting $12.17. The company’s stock had a trading volume of 30,009 shares, compared to its average volume of 32,161. Summit Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $16.86. The stock has a market capitalization of $168.48, a price-to-earnings ratio of -121.70 and a beta of 0.37.

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Summit Therapeutics Company Profile

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

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