Summit Therapeutics (NASDAQ:SMMT) Issues Earnings Results

Summit Therapeutics (NASDAQ:SMMT) released its quarterly earnings data on Monday. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08), Zacks reports. The company had revenue of $0.20 million for the quarter.

Summit Therapeutics Stock Performance

Shares of NASDAQ SMMT opened at $18.11 on Wednesday. The firm has a market capitalization of $13.36 billion, a P/E ratio of -64.68 and a beta of -0.88. Summit Therapeutics has a one year low of $2.10 and a one year high of $33.89. The company’s fifty day moving average is $19.90 and its two-hundred day moving average is $19.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMMT shares. Wells Fargo & Company started coverage on shares of Summit Therapeutics in a research report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 target price on the stock. Jefferies Financial Group began coverage on shares of Summit Therapeutics in a research report on Friday, December 6th. They issued a “buy” rating and a $31.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective on shares of Summit Therapeutics in a research report on Tuesday. JMP Securities began coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 price objective on the stock. Finally, Truist Financial began coverage on shares of Summit Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.