Brokerages Expect SUMMIT THERAPEU/S (NASDAQ:SMMT) Will Post Earnings of -$0.31 Per Share

Equities research analysts expect that SUMMIT THERAPEU/S (NASDAQ:SMMT) will post ($0.31) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for SUMMIT THERAPEU/S’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.26). SUMMIT THERAPEU/S reported earnings per share of $2.10 in the same quarter last year, which would suggest a negative year over year growth rate of 114.8%. The company is scheduled to announce its next earnings report on Thursday, September 19th.

On average, analysts expect that SUMMIT THERAPEU/S will report full-year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.60) to ($0.98). For the next financial year, analysts expect that the business will post earnings of ($1.29) per share, with EPS estimates ranging from ($1.65) to ($0.78). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow SUMMIT THERAPEU/S.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.13). The business had revenue of $0.66 million during the quarter, compared to analyst estimates of $4.44 million. SUMMIT THERAPEU/S had a return on equity of 27.08% and a net margin of 24.32%.

A number of equities analysts recently weighed in on the company. Oppenheimer reaffirmed a “hold” rating on shares of SUMMIT THERAPEU/S in a report on Thursday, March 28th. HC Wainwright set a $2.00 price target on SUMMIT THERAPEU/S and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Zacks Investment Research cut SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. SUMMIT THERAPEU/S presently has an average rating of “Hold” and an average target price of $2.70.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Renaissance Technologies LLC lifted its stake in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 55.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,330 shares of the company’s stock after purchasing an additional 27,230 shares during the quarter. Renaissance Technologies LLC owned about 0.55% of SUMMIT THERAPEU/S worth $140,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.75% of the company’s stock.

NASDAQ SMMT traded down $0.01 during trading hours on Friday, reaching $1.25. The company’s stock had a trading volume of 300 shares, compared to its average volume of 34,807. The stock has a market capitalization of $17.58 million, a price-to-earnings ratio of 1.48 and a beta of 1.45. SUMMIT THERAPEU/S has a 1-year low of $1.10 and a 1-year high of $13.39.

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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