Summit Therapeutics PLC (SMMT) Expected to Post Quarterly Sales of $2.32 Million
Equities research analysts predict that Summit Therapeutics PLC (NASDAQ:SMMT) will post sales of $2.32 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Summit Therapeutics PLC’s earnings, with the lowest sales estimate coming in at $2.31 million and the highest estimate coming in at $2.32 million. Summit Therapeutics PLC reported sales of $700,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 231.4%. The business is expected to announce its next earnings report on Thursday, December 21st.
On average, 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 fiscal year, analysts anticipate that the business will post sales of $11.21 million per share, with estimates ranging from $9.29 million to $13.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Summit Therapeutics PLC.
Summit Therapeutics PLC (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analysts’ expectations of $31.37 million.
A number of research analysts have recently commented on SMMT shares. Zacks Investment Research downgraded Summit Therapeutics PLC from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $24.00 price objective on shares of Summit Therapeutics PLC in a report on Monday, September 11th. Canaccord Genuity reiterated a “buy” rating on shares of Summit Therapeutics PLC in a report on Monday, October 16th. Finally, ValuEngine downgraded Summit Therapeutics PLC from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Summit Therapeutics PLC has a consensus rating of “Hold” and an average target price of $23.50.
A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC purchased a new stake in Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned 0.16% of Summit Therapeutics PLC at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.77% of the company’s stock.
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Shares of Summit Therapeutics PLC (SMMT) traded down 1.63% during midday trading on Monday, hitting $11.45. The stock had a trading volume of 23,103 shares. The stock’s market cap is $141.81 million. Summit Therapeutics PLC has a one year low of $7.95 and a one year high of $16.86. The firm has a 50 day moving average price of $12.76 and a 200 day moving average price of $12.76.
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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