Analysts Offer Predictions for Summit Therapeutics PLC’s FY2018 Earnings (NASDAQ:SMMT)

Summit Therapeutics PLC (NASDAQ:SMMT) – Stock analysts at SunTrust Banks issued their FY2018 EPS estimates for shares of Summit Therapeutics in a research note issued to investors on Thursday, Zacks Investment Research reports. SunTrust Banks analyst E. Nash forecasts that the company will post earnings of ($0.50) per share for the year. SunTrust Banks has a “Buy” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Summit Therapeutics’ Q4 2018 earnings at ($0.90) EPS, Q1 2019 earnings at ($0.75) EPS, Q2 2019 earnings at ($0.85) EPS, Q3 2019 earnings at ($1.05) EPS, Q4 2019 earnings at ($1.25) EPS, FY2019 earnings at ($3.90) EPS, FY2020 earnings at ($3.55) EPS, FY2021 earnings at ($3.30) EPS and FY2022 earnings at $8.05 EPS.

A number of other research analysts have also weighed in on the stock. ValuEngine upgraded shares of Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Oppenheimer lifted their price objective on shares of Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Summit Therapeutics in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Summit Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Friday, January 12th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Summit Therapeutics in a research note on Monday, October 16th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $22.40.

Summit Therapeutics (NASDAQ SMMT) opened at $13.64 on Monday. Summit Therapeutics has a one year low of $8.80 and a one year high of $16.86. The firm has a market cap of $202.01 and a P/E ratio of -136.40.

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

Large investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. bought a new position in Summit Therapeutics in the 3rd quarter valued at $628,000. Highbridge Capital Management LLC bought a new position in Summit Therapeutics in the 3rd quarter valued at $1,004,000. Acadian Asset Management LLC boosted its holdings in Summit Therapeutics by 192.8% in the 4th quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock valued at $1,595,000 after purchasing an additional 94,876 shares during the period. Susquehanna International Group LLP bought a new position in Summit Therapeutics in the 3rd quarter valued at $1,828,000. Finally, Sphera Funds Management LTD. boosted its holdings in Summit Therapeutics by 49.3% in the 3rd quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after purchasing an additional 70,000 shares during the period. 29.98% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Analysts Offer Predictions for Summit Therapeutics PLC’s FY2018 Earnings (NASDAQ:SMMT)” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/02/summit-therapeutics-plc-smmt-forecasted-to-earn-fy2018-earnings-of-0-50-per-share.html.

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).

Get a free copy of the Zacks research report on Summit Therapeutics (SMMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Summit Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply