Research Analysts Set Expectations for SMMT FY2026 Earnings

Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) - Research analysts at Cantor Fitzgerald issued their FY2026 EPS estimates for shares of Summit Therapeutics in a research report issued to clients and investors on Monday, June 9th. Cantor Fitzgerald analyst E. Schmidt forecasts that the company will post earnings per share of ($0.62) for the year. Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Summit Therapeutics' current full-year earnings is ($0.30) per share.

SMMT has been the subject of several other research reports. Leerink Partners assumed coverage on Summit Therapeutics in a report on Wednesday. They issued an "underperform" rating and a $12.00 price target for the company. HC Wainwright restated a "buy" rating and set a $44.00 price target on shares of Summit Therapeutics in a research note on Monday, April 28th. The Goldman Sachs Group increased their target price on shares of Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $40.00 target price on shares of Summit Therapeutics in a research note on Monday, June 2nd. Finally, TD Cowen upgraded shares of Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.09.

Summit Therapeutics Trading Down 3.7%

NASDAQ:SMMT traded down $0.81 during trading hours on Tuesday, reaching $21.27. 1,919,987 shares of the company were exchanged, compared to its average volume of 3,622,652. The firm has a market cap of $15.80 billion, a PE ratio of -76.48 and a beta of -1.06. Summit Therapeutics has a twelve month low of $6.78 and a twelve month high of $36.91. The stock's 50-day moving average is $23.51 and its 200-day moving average is $20.91.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01.

Institutional Investors Weigh In On Summit Therapeutics

Large investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in shares of Summit Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock worth $29,000 after purchasing an additional 751 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Summit Therapeutics in the 4th quarter worth $30,000. CWM LLC grew its holdings in shares of Summit Therapeutics by 3,455.3% during the 1st quarter. CWM LLC now owns 1,671 shares of the company's stock worth $32,000 after purchasing an additional 1,624 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock valued at $45,000 after buying an additional 900 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Summit Therapeutics during the 1st quarter valued at $49,000. 4.61% of the stock is owned by institutional investors and hedge funds.

About Summit Therapeutics

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.