Summit Therapeutics (SMMT) Projected to Post Quarterly Earnings on Tuesday

Summit Therapeutics (NASDAQ:SMMT) will likely be releasing its earnings data before the market opens on Tuesday, February 18th. Analysts expect Summit Therapeutics to post earnings of ($0.08) per share for the quarter.

Summit Therapeutics Stock Up 1.9 %

Shares of NASDAQ SMMT opened at $20.50 on Tuesday. The business has a 50-day simple moving average of $19.30 and a two-hundred day simple moving average of $18.33. Summit Therapeutics has a 52 week low of $2.10 and a 52 week high of $33.89. The company has a market cap of $15.12 billion, a P/E ratio of -73.21 and a beta of -0.88.

Analysts Set New Price Targets

A number of analysts recently weighed in on SMMT shares. Truist Financial began coverage on shares of Summit Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $35.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $44.00 price target on shares of Summit Therapeutics in a research report on Tuesday, January 21st. Wells Fargo & Company initiated coverage on Summit Therapeutics in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $30.00 price objective on the stock. Jefferies Financial Group assumed coverage on Summit Therapeutics in a research report on Friday, December 6th. They set a “buy” rating and a $31.00 target price for the company. Finally, JMP Securities started coverage on Summit Therapeutics in a research report on Monday, November 4th. They set a “market outperform” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.57.

Summit Therapeutics Company Profile

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.