Research Analysts Set Expectations for SMMT FY2025 Earnings

Key Points

• Analysts at Cantor Fitzgerald have reduced their FY2025 earnings per share estimate for Summit Therapeutics to ($1.13), down from a previous estimate of ($0.46).
• The consensus estimate for the company's current full-year earnings is ($0.30) per share, indicating a significant discrepancy with Cantor Fitzgerald's forecast.
• Summit Therapeutics' stock currently has an average rating of "Moderate Buy" with an average price target of $35.00, despite a wide range of ratings from various analysts.

Summit Therapeutics PLC (NASDAQ:SMMT - Free Report) - Investment analysts at Cantor Fitzgerald cut their FY2025 earnings estimates for shares of Summit Therapeutics in a research report issued on Wednesday, August 13th. Cantor Fitzgerald analyst E. Schmidt now anticipates that the company will post earnings of ($1.13) per share for the year, down from their prior forecast of ($0.46). Cantor Fitzgerald has a "Overweight" rating 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 issued its quarterly earnings data on Monday, August 11th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.66).

Several other research firms also recently weighed in on SMMT. JMP Securities reissued a "market outperform" rating and issued a $40.00 target price on shares of Summit Therapeutics in a research report on Monday, June 2nd. TD Cowen raised shares of Summit Therapeutics to a "strong-buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $44.00 price objective on shares of Summit Therapeutics and gave the company a "buy" rating in a research report on Friday, April 25th. Leerink Partners began coverage on shares of Summit Therapeutics in a research report on Wednesday, June 11th. They set an "underperform" rating and a $12.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of Summit Therapeutics from $30.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Summit Therapeutics Stock Down 1.5%

Shares of SMMT traded down $0.40 during midday trading on Friday, hitting $26.29. The company had a trading volume of 2,332,683 shares, compared to its average volume of 2,704,906. The company's 50 day moving average price is $24.58 and its 200 day moving average price is $22.80. The stock has a market cap of $19.53 billion, a price-to-earnings ratio of -26.03 and a beta of -1.06. Summit Therapeutics has a 52 week low of $11.29 and a 52 week high of $36.91.

Institutional Trading of Summit Therapeutics

A number of institutional investors have recently made changes to their positions in SMMT. Norges Bank acquired a new stake in shares of Summit Therapeutics in the 2nd quarter worth approximately $29,576,000. APEIRON CAPITAL Ltd acquired a new stake in shares of Summit Therapeutics in the 2nd quarter worth approximately $25,556,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Summit Therapeutics by 20.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,557,927 shares of the company's stock worth $116,995,000 after acquiring an additional 1,118,270 shares during the period. Fiera Capital Corp acquired a new stake in shares of Summit Therapeutics in the 2nd quarter worth approximately $16,659,000. Finally, Siren L.L.C. acquired a new stake in Summit Therapeutics during the first quarter valued at approximately $13,407,000. 4.61% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics Company Profile

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.