Summit Therapeutics (NASDAQ:SMMT) Issues Earnings Results

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01, Zacks reports.

Summit Therapeutics Trading Up 13.1 %

SMMT stock traded up $3.23 during trading on Friday, reaching $27.90. 7,351,888 shares of the stock were exchanged, compared to its average volume of 3,849,931. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of -99.64 and a beta of -0.46. The business has a 50 day moving average price of $21.36 and a 200-day moving average price of $20.30. Summit Therapeutics has a 1 year low of $2.10 and a 1 year high of $36.91.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SMMT shares. HC Wainwright reaffirmed a "buy" rating and issued a $44.00 price target on shares of Summit Therapeutics in a research note on Monday, April 28th. Summit Redstone set a $35.00 price target on Summit Therapeutics in a research note on Wednesday, March 26th. Evercore ISI began coverage on Summit Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $30.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Summit Therapeutics from $37.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Summit Therapeutics in a report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.40.

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.

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