Analysts Expect SUMMIT THERAPEU/S (SMMT) Will Post Quarterly Sales of $5.86 Million

Equities analysts forecast that SUMMIT THERAPEU/S (NASDAQ:SMMT) will post $5.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SUMMIT THERAPEU/S’s earnings, with estimates ranging from $4.04 million to $7.68 million. SUMMIT THERAPEU/S reported sales of $2.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 155.9%. The firm is expected to issue its next quarterly earnings report on Wednesday, December 5th.

According to Zacks, analysts expect that SUMMIT THERAPEU/S will report full year sales of $53.21 million for the current year, with estimates ranging from $31.14 million to $71.42 million. For the next fiscal year, analysts expect that the company will post sales of $8.54 million, with estimates ranging from $4.28 million to $12.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow SUMMIT THERAPEU/S.

Several equities research analysts have recently commented on the stock. Canaccord Genuity set a $3.00 target price on shares of SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research report on Friday, June 29th. ValuEngine cut shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Zacks Investment Research cut shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. UBS Group cut shares of SUMMIT THERAPEU/S from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 27th. Finally, JMP Securities cut shares of SUMMIT THERAPEU/S to a “market perform” rating in a research report on Thursday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.19.

Shares of SMMT traded up $0.05 on Friday, hitting $2.12. The company’s stock had a trading volume of 7,583 shares, compared to its average volume of 112,139. SUMMIT THERAPEU/S has a fifty-two week low of $1.94 and a fifty-two week high of $15.90. The company has a market capitalization of $30.73 million, a P/E ratio of -2.83 and a beta of 0.82.

A hedge fund recently bought a new stake in SUMMIT THERAPEU/S stock. Acadian Asset Management LLC purchased a new position in SUMMIT THERAPEU/S (NASDAQ:SMMT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 106,505 shares of the company’s stock, valued at approximately $261,000. Acadian Asset Management LLC owned approximately 0.77% of SUMMIT THERAPEU/S at the end of the most recent reporting period. Hedge funds and other institutional investors own 24.93% of the company’s stock.

About SUMMIT THERAPEU/S

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes 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 THERAPEU/S (NASDAQ:SMMT)

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