Summit Therapeutics (SMMT) Scheduled to Post Quarterly Earnings on Wednesday

Posted by Hayley Millar on Oct 24th, 2024

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) will be issuing its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter.

Summit Therapeutics (NASDAQ:SMMT – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. 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 Trading Down 2.7 %

Shares of SMMT stock opened at $20.03 on Thursday. Summit Therapeutics has a 12-month low of $1.64 and a 12-month high of $33.89. The firm’s 50 day moving average is $18.90 and its 200 day moving average is $11.12. The stock has a market capitalization of $14.51 billion, a P/E ratio of -87.08 and a beta of -0.97.

Analyst Upgrades and Downgrades

SMMT has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Summit Therapeutics in a research note on Friday, October 4th. Stifel Nicolaus lifted their price target on shares of Summit Therapeutics from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup cut shares of Summit Therapeutics from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $23.00 in a research note on Friday, September 27th.

Read Our Latest Report on SMMT

Summit Therapeutics Company Profile

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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.