Zacks: Brokerages Anticipate SUMMIT THERAPEU/S (NASDAQ:SMMT) Will Post Earnings of -$0.23 Per Share

Brokerages predict that SUMMIT THERAPEU/S (NASDAQ:SMMT) will announce ($0.23) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SUMMIT THERAPEU/S’s earnings. The lowest EPS estimate is ($0.31) and the highest is ($0.19). SUMMIT THERAPEU/S reported earnings per share of ($0.65) in the same quarter last year, which would indicate a positive year over year growth rate of 64.6%. The company is scheduled to announce its next earnings report on Tuesday, December 10th.

On average, analysts expect that SUMMIT THERAPEU/S will report full year earnings of ($0.83) per share for the current year, with EPS estimates ranging from ($0.92) to ($0.76). For the next fiscal year, analysts forecast that the business will post earnings of ($0.82) per share, with EPS estimates ranging from ($0.88) to ($0.74). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for SUMMIT THERAPEU/S.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last released its earnings results on Friday, October 11th. The company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.08. SUMMIT THERAPEU/S had a negative net margin of 1,432.73% and a negative return on equity of 61.73%. The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.43 million.

SMMT has been the topic of several research analyst reports. ValuEngine upgraded SUMMIT THERAPEU/S from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 3rd. Zacks Investment Research downgraded SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. TheStreet lowered SUMMIT THERAPEU/S from a “c-” rating to a “d-” rating in a research note on Friday, October 11th. Finally, HC Wainwright set a $2.00 target price on SUMMIT THERAPEU/S and gave the company a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $1.88.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp raised its holdings in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,897 shares of the company’s stock after purchasing an additional 118,501 shares during the period. Bank of New York Mellon Corp owned 1.57% of SUMMIT THERAPEU/S worth $274,000 at the end of the most recent reporting period. 8.28% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SMMT traded up $0.09 during mid-day trading on Friday, reaching $1.54. The company had a trading volume of 148,055 shares, compared to its average volume of 16,980. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $46.54 million, a price-to-earnings ratio of 1.83 and a beta of 1.18. The company’s 50-day moving average price is $1.61 and its 200-day moving average price is $1.47. SUMMIT THERAPEU/S has a one year low of $1.10 and a one year high of $2.46.


Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare 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 THERAPEU/S (NASDAQ:SMMT)

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