HC Wainwright Has Bullish Outlook for SMMT FY2026 Earnings

Key Points

• HC Wainwright has increased its FY2026 earnings estimate for Summit Therapeutics, projecting earnings of ($0.40) per share, a slight improvement from the previous estimate of ($0.41), while maintaining a Buy rating and a target price of $50.00.
• Despite the positive outlook from HC Wainwright, Summit Therapeutics is facing mixed ratings from other analysts, with Zacks Research downgrading the stock to a strong sell and multiple firms setting varying price targets.
• Summit Therapeutics reported a quarterly EPS of ($0.76), significantly missing analysts' expectations of ($0.10), indicating challenges in meeting financial projections.

Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) - Analysts at HC Wainwright increased their FY2026 earnings per share estimates for shares of Summit Therapeutics in a report released on Wednesday, August 27th. HC Wainwright analyst M. Kapoor now anticipates that the company will earn ($0.40) per share for the year, up from their previous estimate of ($0.41). HC Wainwright currently has a "Buy" rating and a $50.00 price target on the stock. The consensus estimate for Summit Therapeutics' current full-year earnings is ($0.30) per share.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.66).

SMMT has been the topic of several other reports. Wall Street Zen lowered Summit Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Summit Redstone set a $21.00 target price on Summit Therapeutics in a research report on Tuesday, August 19th. Leerink Partners started coverage on Summit Therapeutics in a research report on Wednesday, June 11th. They issued an "underperform" rating and a $12.00 target price on the stock. Evercore ISI increased their target price on Summit Therapeutics from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Finally, Piper Sandler started coverage on Summit Therapeutics in a research report on Monday, August 18th. They issued a "neutral" rating and a $21.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.31.

Summit Therapeutics Price Performance

Shares of SMMT stock traded down $0.72 on Friday, hitting $23.70. 2,542,757 shares of the stock traded hands, compared to its average volume of 3,220,154. The company has a market capitalization of $17.61 billion, a PE ratio of -23.47 and a beta of -1.02. Summit Therapeutics has a 1-year low of $11.76 and a 1-year high of $36.91. The company's fifty day moving average is $25.53 and its 200 day moving average is $23.12.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ball & Co Wealth Management Inc. bought a new position in Summit Therapeutics during the second quarter valued at about $31,000. Golden State Wealth Management LLC lifted its stake in Summit Therapeutics by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,502 shares of the company's stock worth $29,000 after acquiring an additional 751 shares in the last quarter. CWM LLC lifted its stake in Summit Therapeutics by 3,455.3% in the 1st quarter. CWM LLC now owns 1,671 shares of the company's stock worth $32,000 after acquiring an additional 1,624 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Summit Therapeutics by 34.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company's stock worth $37,000 after acquiring an additional 447 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in Summit Therapeutics in the 1st quarter worth about $49,000. Institutional investors own 4.61% of the company's stock.

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.