Summit Therapeutics PLC (NASDAQ:SMMT) Expected to Post Earnings of $1.38 Per Share
Brokerages expect Summit Therapeutics PLC (NASDAQ:SMMT) to report earnings per share of $1.38 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Summit Therapeutics PLC’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.62. Summit Therapeutics PLC reported earnings per share of ($0.65) during the same quarter last year, which indicates a positive year-over-year growth rate of 312.3%. The company is expected to issue its next earnings results on Thursday, September 14th.
According to Zacks, analysts expect that Summit Therapeutics PLC will report full year earnings of ($0.32) per share for the current fiscal year, with EPS estimates ranging from ($0.83) to $0.19. For the next financial year, analysts forecast that the business will post earnings of ($2.58) per share, with EPS estimates ranging from ($3.14) to ($2.01). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Summit Therapeutics PLC.
SMMT has been the subject of a number of analyst reports. Zacks Investment Research raised Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $24.00 price objective on Summit Therapeutics PLC and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a report on Friday, June 16th. Finally, ValuEngine raised Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.00.
A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Acadian Asset Management LLC acquired a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned approximately 0.10% of Summit Therapeutics PLC at the end of the most recent quarter. 21.86% of the stock is currently owned by hedge funds and other institutional investors.
Summit Therapeutics PLC (SMMT) traded up 1.54% during mid-day trading on Monday, hitting $14.47. 18,942 shares of the company’s stock traded hands. The stock’s market cap is $179.15 million. Summit Therapeutics PLC has a one year low of $5.31 and a one year high of $19.75. The firm’s 50-day moving average price is $11.98 and its 200-day moving average price is $11.71.
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About Summit Therapeutics PLC
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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