Research Analysts Set Expectations for SMMT FY2026 Earnings

Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) - Research analysts at Cantor Fitzgerald issued their FY2026 earnings estimates for shares of Summit Therapeutics in a research note issued 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.

A number of other research firms have also weighed in on SMMT. JMP Securities reissued a "market outperform" rating and set a $40.00 price objective on shares of Summit Therapeutics in a research note on Monday, June 2nd. Jefferies Financial Group set a $44.00 price target on shares of Summit Therapeutics and gave the stock a "buy" rating in a report on Friday, April 25th. Citigroup upgraded shares of Summit Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $23.00 to $35.00 in a research report on Wednesday, March 26th. TD Cowen upgraded shares of Summit Therapeutics to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Leerink Partners began coverage on Summit Therapeutics in a research note on Wednesday. They issued an "underperform" rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Summit Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $35.09.

Summit Therapeutics Stock Performance

SMMT stock traded down $0.38 during trading on Tuesday, hitting $19.78. 2,891,815 shares of the company traded hands, compared to its average volume of 3,641,926. The company has a 50-day moving average of $23.68 and a 200-day moving average of $20.91. Summit Therapeutics has a 1 year low of $6.78 and a 1 year high of $36.91. The firm has a market capitalization of $14.69 billion, a PE ratio of -70.64 and a beta of -1.06.

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

Institutional Trading of Summit Therapeutics

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Summit Therapeutics by 5.2% in the 1st quarter. Rhumbline Advisers now owns 131,760 shares of the company's stock worth $2,542,000 after acquiring an additional 6,558 shares in the last quarter. Siren L.L.C. purchased a new stake in Summit Therapeutics in the first quarter worth $13,407,000. Focus Partners Wealth raised its holdings in Summit Therapeutics by 145,546.6% in the first quarter. Focus Partners Wealth now owns 84,475 shares of the company's stock worth $1,630,000 after purchasing an additional 84,417 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Summit Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company's stock valued at $1,273,000 after buying an additional 694 shares in the last quarter. Finally, Cutter Capital Management LP bought a new position in shares of Summit Therapeutics in the 1st quarter worth about $7,716,000. 4.61% of the stock is owned by institutional investors.

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.