Q2 Earnings Forecast for SMMT Issued By HC Wainwright

Summit Therapeutics PLC (NASDAQ:SMMT) – Analysts at HC Wainwright issued their Q2 2027 earnings estimates for Summit Therapeutics in a note issued to investors on Monday, May 4th. HC Wainwright analyst M. Kapoor forecasts that the company will earn ($0.27) per share for the quarter. HC Wainwright has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for Summit Therapeutics’ current full-year earnings is ($1.26) per share.

Several other research firms have also commented on SMMT. Citizens Jmp reissued a “market outperform” rating and set a $40.00 price target on shares of Summit Therapeutics in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Tuesday, April 21st. Piper Sandler decreased their price target on shares of Summit Therapeutics from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Zacks Research raised shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Stifel Nicolaus assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.58.

Summit Therapeutics Stock Performance

SMMT stock opened at $17.85 on Thursday. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of -11.16 and a beta of -1.25. The firm has a 50-day simple moving average of $18.50 and a two-hundred day simple moving average of $17.74. Summit Therapeutics has a one year low of $13.83 and a one year high of $30.98.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03.

Hedge Funds Weigh In On Summit Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Summit Therapeutics by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 404,679 shares of the company’s stock valued at $7,673,000 after purchasing an additional 50,923 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Summit Therapeutics by 12.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 111,894 shares of the company’s stock worth $2,122,000 after buying an additional 12,527 shares during the period. Fifth Third Bancorp increased its holdings in Summit Therapeutics by 24.4% in the 1st quarter. Fifth Third Bancorp now owns 3,732 shares of the company’s stock worth $71,000 after buying an additional 732 shares during the period. Ball & Co Wealth Management Inc. acquired a new position in Summit Therapeutics in the 1st quarter worth approximately $28,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Summit Therapeutics in the 1st quarter worth approximately $2,269,000. 4.61% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics Company Profile

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.