HC Wainwright Analysts Reduce Earnings Estimates for SMMT

Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) - Investment analysts at HC Wainwright reduced their Q2 2025 earnings per share (EPS) estimates for Summit Therapeutics in a note issued to investors on Monday, April 28th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.10) per share for the quarter, down from their previous forecast of ($0.09). HC Wainwright currently has a "Buy" rating and a $44.00 target price 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 released its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01.

Other equities research analysts also recently issued reports about the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. Citigroup upgraded Summit Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $23.00 to $35.00 in a research note on Wednesday, March 26th. Jefferies Financial Group set a $44.00 target price on Summit Therapeutics and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group increased their price target on shares of Summit Therapeutics from $37.00 to $41.00 and gave the company a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.40.

Summit Therapeutics Price Performance

Shares of NASDAQ SMMT traded up $0.12 during trading on Thursday, hitting $28.02. The stock had a trading volume of 2,770,672 shares, compared to its average volume of 3,853,566. The firm has a fifty day moving average of $21.36 and a two-hundred day moving average of $20.27. The company has a market capitalization of $20.67 billion, a PE ratio of -100.07 and a beta of -0.46. Summit Therapeutics has a 12 month low of $2.10 and a 12 month high of $36.91.

Institutional Investors Weigh In On Summit Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SMMT. Griffin Asset Management Inc. boosted its position in shares of Summit Therapeutics by 63.3% during the 4th quarter. Griffin Asset Management Inc. now owns 110,660 shares of the company's stock valued at $1,975,000 after acquiring an additional 42,900 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Summit Therapeutics in the fourth quarter worth approximately $444,000. China Universal Asset Management Co. Ltd. boosted its position in Summit Therapeutics by 12.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 156,366 shares of the company's stock valued at $2,790,000 after buying an additional 17,014 shares during the period. Wells Fargo & Company MN grew its holdings in Summit Therapeutics by 79.2% in the 4th quarter. Wells Fargo & Company MN now owns 95,265 shares of the company's stock worth $1,700,000 after acquiring an additional 42,090 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Summit Therapeutics by 252.8% in the fourth quarter. Principal Financial Group Inc. now owns 205,150 shares of the company's stock valued at $3,661,000 after acquiring an additional 147,003 shares during the period. 4.61% of the stock is currently 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.