Summit Therapeutics PLC (SMMT) Expected to Announce Quarterly Sales of $31.37 Million
Analysts forecast that Summit Therapeutics PLC (NASDAQ:SMMT) will post sales of $31.37 million for the current quarter, according to Zacks. Two analysts have issued estimates for Summit Therapeutics PLC’s earnings, with the lowest sales estimate coming in at $24.14 million and the highest estimate coming in at $38.59 million. Summit Therapeutics PLC posted sales of $20,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 156,750%. The company is scheduled to report its next quarterly earnings results on Thursday, September 14th.
On average, analysts expect that Summit Therapeutics PLC will report full-year sales of $31.37 million for the current year, with estimates ranging from $30.87 million to $45.46 million. For the next fiscal year, analysts expect that the business will post sales of $11.08 million per share, with estimates ranging from $9.03 million to $13.13 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Summit Therapeutics PLC.
SMMT has been the topic of several research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Summit Therapeutics PLC in a research report on Friday, June 16th. ValuEngine raised shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Oppenheimer Holdings, Inc. set a $24.00 price objective on shares of Summit Therapeutics PLC and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.00.
TRADEMARK VIOLATION NOTICE: “Summit Therapeutics PLC (SMMT) Expected to Announce Quarterly Sales of $31.37 Million” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/08/09/summit-therapeutics-plc-smmt-expected-to-announce-quarterly-sales-of-31-37-million.html.
An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Acadian Asset Management LLC bought a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned 0.10% of Summit Therapeutics PLC at the end of the most recent quarter. Institutional investors own 21.86% of the company’s stock.
Summit Therapeutics PLC (NASDAQ:SMMT) opened at 14.2575 on Wednesday. Summit Therapeutics PLC has a 1-year low of $5.31 and a 1-year high of $19.75. The stock’s 50 day moving average is $12.28 and its 200 day moving average is $11.77. The firm’s market capitalization is $176.52 million.
Summit Therapeutics PLC 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Summit Therapeutics PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Therapeutics PLC and related companies with MarketBeat.com's FREE daily email newsletter.