Zacks: Analysts Expect Summit Therapeutics PLC (SMMT) to Post -$0.77 Earnings Per Share

Wall Street brokerages forecast that Summit Therapeutics PLC (NASDAQ:SMMT) will report ($0.77) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Summit Therapeutics’ earnings. The highest EPS estimate is ($0.64) and the lowest is ($0.90). Summit Therapeutics reported earnings of ($0.50) per share during the same quarter last year, which would indicate a negative year over year growth rate of 54%. The business is expected to announce its next quarterly earnings report on Wednesday, April 4th.

On average, analysts expect that Summit Therapeutics will report full-year earnings of ($0.46) per share for the current year, with EPS estimates ranging from ($0.66) to ($0.21). For the next financial year, analysts expect that the company will report earnings of ($2.96) per share, with EPS estimates ranging from ($3.90) to ($1.92). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Summit Therapeutics.

Summit Therapeutics (NASDAQ:SMMT) last issued its earnings results on Wednesday, December 6th. The company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.53. Summit Therapeutics had a negative return on equity of 10.90% and a negative net margin of 0.95%.

A number of equities research analysts have weighed in on SMMT shares. Zacks Investment Research raised Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Summit Therapeutics in a report on Thursday, December 7th. SunTrust Banks assumed coverage on Summit Therapeutics in a report on Thursday, January 4th. They issued a “buy” rating and a $24.00 target price on the stock. Canaccord Genuity reissued a “buy” rating on shares of Summit Therapeutics in a report on Monday, October 16th. Finally, Oppenheimer reissued a “buy” rating and set a $24.00 price objective on shares of Summit Therapeutics in a report on Monday, October 16th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Summit Therapeutics presently has an average rating of “Buy” and an average target price of $22.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMMT. Sphera Funds Management LTD. boosted its holdings in shares of Summit Therapeutics by 49.3% during the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after acquiring an additional 70,000 shares in the last quarter. Granite Point Capital Management L.P. boosted its holdings in shares of Summit Therapeutics by 106.7% during the 3rd quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after acquiring an additional 125,000 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Summit Therapeutics during the 3rd quarter valued at $628,000. Highbridge Capital Management LLC acquired a new stake in shares of Summit Therapeutics during the 3rd quarter valued at $1,004,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Summit Therapeutics by 0.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock valued at $10,121,000 after acquiring an additional 5,240 shares in the last quarter. 29.98% of the stock is currently owned by institutional investors.

Shares of Summit Therapeutics (NASDAQ SMMT) opened at $12.41 on Monday. The firm has a market capitalization of $171.80, a price-to-earnings ratio of -124.10 and a beta of 0.73. Summit Therapeutics has a twelve month low of $8.80 and a twelve month high of $16.86.

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Summit Therapeutics 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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Earnings History and Estimates for Summit Therapeutics (NASDAQ:SMMT)

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