Brokers Offer Predictions for Summit Therapeutics PLC’s Q3 2018 Earnings (SMMT)
Summit Therapeutics PLC (NASDAQ:SMMT) – Research analysts at Oppenheimer Holdings lowered their Q3 2018 earnings per share estimates for Summit Therapeutics PLC in a research note issued to investors on Monday. Oppenheimer Holdings analyst H. Singh now expects that the company will post earnings per share of ($0.73) for the quarter, down from their previous estimate of ($0.71). Oppenheimer Holdings has a “Buy” rating and a $24.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Summit Therapeutics PLC’s Q4 2018 earnings at ($0.86) EPS, FY2018 earnings at ($1.19) EPS, FY2019 earnings at ($3.37) EPS, FY2020 earnings at ($6.07) EPS and FY2021 earnings at ($1.06) EPS.
Summit Therapeutics PLC (NASDAQ:SMMT) last released its earnings results on Thursday, August 31st. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.28). Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. The business had revenue of $25.01 million for the quarter, compared to analyst estimates of $31.37 million.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, July 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of Summit Therapeutics PLC in a research note on Friday, June 16th. Finally, ValuEngine raised shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.
Summit Therapeutics PLC (NASDAQ SMMT) traded down 18.03% during mid-day trading on Thursday, reaching $12.50. 192,450 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $15.86 and a 200-day moving average of $13.48. Summit Therapeutics PLC has a 12 month low of $5.31 and a 12 month high of $19.75. The firm’s market cap is $154.76 million.
A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC acquired a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned 0.16% of Summit Therapeutics PLC as of its most recent SEC filing. Institutional investors and hedge funds own 21.77% of the company’s stock.
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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