SUMMIT THERAPEU/S (NASDAQ:SMMT) Expected to Post Quarterly Sales of $2.17 Million

Brokerages forecast that SUMMIT THERAPEU/S (NASDAQ:SMMT) will report sales of $2.17 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for SUMMIT THERAPEU/S’s earnings, with the highest sales estimate coming in at $3.90 million and the lowest estimate coming in at $430,000.00. SUMMIT THERAPEU/S reported sales of $49.82 million during the same quarter last year, which indicates a negative year-over-year growth rate of 95.6%. The business is scheduled to report its next earnings results on Thursday, September 19th.

According to Zacks, analysts expect that SUMMIT THERAPEU/S will report full year sales of $7.95 million for the current financial year, with estimates ranging from $320,000.00 to $15.60 million. For the next year, analysts expect that the business will report sales of $4.11 million, with estimates ranging from $1.72 million to $6.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow SUMMIT THERAPEU/S.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last posted its quarterly earnings data on Wednesday, June 12th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.11. SUMMIT THERAPEU/S had a return on equity of 26.31% and a net margin of 24.32%. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $4.34 million.

Several equities analysts have commented on the company. Zacks Investment Research cut SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a report on Wednesday. TheStreet raised SUMMIT THERAPEU/S from a “d” rating to a “c-” rating in a report on Thursday, June 13th. Finally, ValuEngine raised SUMMIT THERAPEU/S from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.75.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp grew its stake in SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,897 shares of the company’s stock after purchasing an additional 118,501 shares during the period. Bank of New York Mellon Corp owned approximately 1.57% of SUMMIT THERAPEU/S worth $274,000 as of its most recent filing with the Securities and Exchange Commission. 19.41% of the stock is owned by hedge funds and other institutional investors.

SUMMIT THERAPEU/S stock traded down $0.01 during trading hours on Friday, hitting $1.26. The stock had a trading volume of 6,414 shares, compared to its average volume of 25,065. The company has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.60. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.53 million, a PE ratio of 1.41 and a beta of 1.22. SUMMIT THERAPEU/S has a fifty-two week low of $1.10 and a fifty-two week high of $2.50.

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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