Summit Therapeutics (SMMT) Scheduled to Post Earnings on Wednesday

Summit Therapeutics (NASDAQ:SMMT) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Summit Therapeutics to post earnings of ($0.06) per share for the quarter.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $0.20 million for the quarter. On average, analysts expect Summit Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Summit Therapeutics Stock Performance

Shares of SMMT stock traded down $0.09 during trading hours on Thursday, hitting $3.50. 336,494 shares of the company were exchanged, compared to its average volume of 2,170,878. The firm has a fifty day simple moving average of $4.10 and a 200 day simple moving average of $3.15. The company has a current ratio of 9.30, a quick ratio of 9.30 and a debt-to-equity ratio of 1.29. Summit Therapeutics has a 52-week low of $1.30 and a 52-week high of $5.22. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -2.30 and a beta of -1.21.

Insider Buying and Selling

In other Summit Therapeutics news, CFO Ankur Dhingra acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of $3.75 per share, with a total value of $375,000.00. Following the acquisition, the chief financial officer now owns 354,958 shares in the company, valued at $1,331,092.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Summit Therapeutics news, CFO Ankur Dhingra acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of $3.75 per share, with a total value of $375,000.00. Following the acquisition, the chief financial officer now owns 354,958 shares in the company, valued at $1,331,092.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mahkam Zanganeh purchased 30,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of $3.75 per share, with a total value of $112,500.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at $112,500. The disclosure for this purchase can be found here. 83.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus initiated coverage on shares of Summit Therapeutics in a research note on Tuesday, March 26th. They set a “buy” rating and a $8.00 price target for the company.

About Summit Therapeutics

Summit Therapeutics Inc, a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies in the United States, and the United Kingdom. The company's lead development candidate is Ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis; and anti-infectives portfolio includes SMT-738, a novel class of precision antibiotics for the treatment of multidrug resistant infections, which primarily includes carbapenem-resistant Enterobacteriaceae infections.