Analysts expect that Summit Therapeutics (NASDAQ:SMMT) will report $6.48 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Summit Therapeutics’ earnings, with the highest sales estimate coming in at $9.10 million and the lowest estimate coming in at $4.35 million. Summit Therapeutics reported sales of $2.24 million in the same quarter last year, which indicates a positive year over year growth rate of 189.3%. The company is scheduled to announce its next earnings report on Wednesday, June 13th.

On average, analysts expect that Summit Therapeutics will report full-year sales of $37.37 million for the current financial year, with estimates ranging from $17.38 million to $55.88 million. For the next year, analysts expect that the firm will post sales of $33.10 million per share, with estimates ranging from $13.30 million to $45.78 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Summit Therapeutics.

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

SMMT has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Summit Therapeutics in a report on Tuesday, February 13th. They set a “buy” rating and a $33.00 target price on the stock. HC Wainwright set a $20.00 target price on shares of Summit Therapeutics and gave the stock a “buy” rating in a report on Wednesday, April 18th. Needham & Company LLC reduced their target price 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. ValuEngine upgraded shares of Summit Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Janney Montgomery Scott initiated coverage on shares of Summit Therapeutics in a report on Wednesday, May 2nd. They set a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Summit Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $25.38.

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in shares of 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 purchasing an additional 94,876 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 22,759 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 purchasing an additional 15,600 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of 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 purchasing an additional 9,400 shares in the last quarter. Institutional investors and hedge funds own 28.13% of the company’s stock.

Summit Therapeutics traded down $0.15, reaching $13.50, during mid-day trading on Friday, MarketBeat Ratings reports. 799 shares of the company’s stock were exchanged, compared to its average volume of 34,625. The firm has a market cap of $192.02 million, a PE ratio of -18.01 and a beta of 0.80. Summit Therapeutics has a twelve month low of $8.80 and a twelve month high of $16.86.

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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