Brokerages Expect Summit Therapeutics Inc. (NASDAQ:SMMT) to Announce -$0.29 Earnings Per Share

Wall Street analysts expect Summit Therapeutics Inc. (NASDAQ:SMMT) to post earnings per share of ($0.29) for the current quarter, according to Zacks. Zero analysts have issued estimates for Summit Therapeutics’ earnings. Summit Therapeutics posted earnings of ($0.25) per share in the same quarter last year, which suggests a negative year over year growth rate of 16%. The firm is expected to announce its next earnings report on Monday, November 15th.

According to Zacks, analysts expect that Summit Therapeutics will report full-year earnings of ($1.06) per share for the current financial year. For the next financial year, analysts expect that the company will post earnings of ($1.07) per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Summit Therapeutics.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Wednesday, August 11th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.09). Summit Therapeutics had a negative net margin of 350.72% and a negative return on equity of 96.34%.

Separately, Zacks Investment Research cut Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 19th.

A number of large investors have recently added to or reduced their stakes in SMMT. Advisor Group Holdings Inc. acquired a new stake in Summit Therapeutics in the second quarter valued at about $44,000. State of Wisconsin Investment Board acquired a new stake in shares of Summit Therapeutics during the second quarter valued at about $79,000. Citigroup Inc. boosted its stake in shares of Summit Therapeutics by 473.4% during the first quarter. Citigroup Inc. now owns 15,332 shares of the company’s stock valued at $90,000 after purchasing an additional 12,658 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Summit Therapeutics during the second quarter valued at about $93,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Summit Therapeutics during the first quarter valued at about $99,000. 11.39% of the stock is currently owned by institutional investors and hedge funds.

Summit Therapeutics stock traded down $0.05 during mid-day trading on Wednesday, hitting $6.35. 1,855 shares of the company’s stock traded hands, compared to its average volume of 218,677. The firm has a 50 day simple moving average of $7.50 and a two-hundred day simple moving average of $6.83. Summit Therapeutics has a fifty-two week low of $3.14 and a fifty-two week high of $12.30. The stock has a market cap of $618.38 million, a price-to-earnings ratio of -6.96 and a beta of 0.65.

Summit Therapeutics Company Profile

Summit Therapeutics Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat infectious diseases in the United States, Latin America, and Europe. It conducts clinical programs focusing on the Clostridioides difficile infection (CDI). The company's lead product candidate is ridinilazole, an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI.

Featured Article: What is the QQQ ETF?

Get a free copy of the Zacks research report on Summit Therapeutics (SMMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Summit Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.