Summit Therapeutics PLC (NASDAQ:SMMT – Free Report) – Analysts at HC Wainwright boosted their FY2026 EPS estimates for shares of Summit Therapeutics in a research note issued on Thursday, November 5th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings per share of ($1.04) for the year, up from their previous estimate of ($1.06). HC Wainwright has a “Buy” rating on the stock. The consensus estimate for Summit Therapeutics’ current full-year earnings is ($1.16) per share. HC Wainwright also issued estimates for Summit Therapeutics’ Q4 2026 earnings at ($0.26) EPS, Q1 2027 earnings at ($0.24) EPS, Q2 2027 earnings at ($0.24) EPS, Q3 2027 earnings at ($0.25) EPS, Q4 2027 earnings at ($0.25) EPS and FY2027 earnings at ($0.98) EPS.
Several other research firms have also issued reports on SMMT. The Goldman Sachs Group set a $41.00 target price on shares of Summit Therapeutics and gave the company a “buy” rating in a report on Tuesday, September 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Summit Therapeutics in a research report on Tuesday, September 22nd. Stifel Nicolaus decreased their price target on Summit Therapeutics from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 24th. Barclays increased their price target on Summit Therapeutics from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 1st. Finally, Morgan Stanley lowered Summit Therapeutics to an “outperform” rating in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.61.
Read Our Latest Research Report on Summit Therapeutics
Summit Therapeutics Stock Up 9.2%
NASDAQ:SMMT opened at $17.84 on Monday. The firm’s fifty day moving average is $16.33 and its 200-day moving average is $16.15. Summit Therapeutics has a 52 week low of $12.07 and a 52 week high of $29.23.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Summit Therapeutics in the second quarter valued at approximately $138,838,000. Candriam S.C.A. raised its position in shares of Summit Therapeutics by 212.3% during the third quarter. Candriam S.C.A. now owns 1,662,969 shares of the company’s stock worth $28,224,000 after purchasing an additional 1,130,537 shares during the period. Bank of America Corp DE acquired a new position in shares of Summit Therapeutics during the second quarter worth approximately $12,603,000. The Manufacturers Life Insurance Company raised its position in shares of Summit Therapeutics by 34.4% during the first quarter. The Manufacturers Life Insurance Company now owns 592,810 shares of the company’s stock worth $11,240,000 after purchasing an additional 151,857 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in shares of Summit Therapeutics in the 3rd quarter worth $8,626,000. Institutional investors own 4.61% of the company’s stock.
Summit Therapeutics Company Profile
Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer.
Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit’s licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.
Featured Articles
- Five stocks we like better than Summit Therapeutics
- Wall Street May Be Making a Big Mistake With monday.com Stock
- Are These 2 Mid-Cap Growth Stocks Worth the Risk?
- Oklo Changes the Narrative: Does a Nuclear Stock Price Explosion Come Next?
- Cloudflare’s 20% Sell-Off May Have Created an Opening for Investors
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.
