Zacks: Analysts Expect Summit Therapeutics PLC (SMMT) Will Announce Quarterly Sales of $2.32 Million
Brokerages forecast that Summit Therapeutics PLC (NASDAQ:SMMT) will post sales of $2.32 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Summit Therapeutics PLC’s earnings, with estimates ranging from $2.31 million to $2.32 million. Summit Therapeutics PLC posted sales of $700,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 231.4%. The business is scheduled to issue its next earnings report on Thursday, December 21st.
According to Zacks, analysts expect that Summit Therapeutics PLC will report full year sales of $2.32 million for the current year, with estimates ranging from $31.94 million to $45.46 million. For the next year, analysts expect that the company will post sales of $11.21 million per share, with estimates ranging from $9.29 million to $13.13 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Summit Therapeutics PLC.
Summit Therapeutics PLC (NASDAQ:SMMT) last announced its quarterly earnings data on Thursday, August 31st. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.28). The company had revenue of $25.01 million during the quarter, compared to analysts’ expectations of $31.37 million. Summit Therapeutics PLC had a negative net margin of 12.44% and a negative return on equity of 29,334.40%.
A number of equities research analysts have recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $28.00 target price on shares of Summit Therapeutics PLC in a research note on Monday. ValuEngine upgraded Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $24.00 target price on shares of Summit Therapeutics PLC in a research note on Monday. Finally, Zacks Investment Research lowered Summit Therapeutics PLC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.00.
An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Renaissance Technologies LLC bought a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned approximately 0.16% of Summit Therapeutics PLC as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 21.77% of the company’s stock.
Summit Therapeutics PLC (NASDAQ SMMT) opened at 12.11 on Friday. The stock’s market cap is $149.93 million. The stock has a 50 day moving average price of $14.76 and a 200 day moving average price of $13.52. Summit Therapeutics PLC has a 52 week low of $5.88 and a 52 week high of $19.75.
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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).
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