HC Wainwright Analysts Lower Earnings Estimates for SMMT

Summit Therapeutics Inc. (NASDAQ:SMMT - Free Report) - Equities researchers at HC Wainwright reduced their Q1 2025 earnings per share estimates for Summit Therapeutics in a research note issued on Tuesday, February 25th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.09) per share for the quarter, down from their prior forecast of ($0.08). 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. HC Wainwright also issued estimates for Summit Therapeutics' Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.39) EPS.

Other equities analysts have also recently issued reports about the stock. JMP Securities assumed coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They set a "market outperform" rating and a $32.00 price objective on the stock. The Goldman Sachs Group assumed coverage on Summit Therapeutics in a report on Friday. They set a "buy" rating and a $42.00 price target on the stock. Wells Fargo & Company started coverage on Summit Therapeutics in a research report on Wednesday, December 11th. They set an "overweight" rating and a $30.00 price target on the stock. Truist Financial initiated coverage on Summit Therapeutics in a research report on Wednesday, January 8th. They set a "buy" rating and a $35.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Summit Therapeutics in a report on Friday, December 6th. They issued a "buy" rating and a $31.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.63.

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Summit Therapeutics Stock Down 0.2 %

Shares of SMMT stock traded down $0.04 during trading hours on Friday, reaching $19.09. 2,668,133 shares of the stock traded hands, compared to its average volume of 2,503,883. The firm has a market capitalization of $14.08 billion, a PE ratio of -68.18 and a beta of -0.88. Summit Therapeutics has a 1-year low of $2.10 and a 1-year high of $33.89. The business has a fifty day moving average price of $20.00 and a 200 day moving average price of $19.42.

Summit Therapeutics (NASDAQ:SMMT - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million for the quarter.

Institutional Investors Weigh In On Summit Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Summit Therapeutics by 3.8% in the third quarter. CIBC Asset Management Inc now owns 20,445 shares of the company's stock worth $448,000 after buying an additional 740 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Summit Therapeutics by 56.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,503 shares of the company's stock worth $45,000 after acquiring an additional 900 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Summit Therapeutics by 12.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,621 shares of the company's stock worth $172,000 after purchasing an additional 1,044 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Summit Therapeutics during the 3rd quarter worth $25,000. Finally, Covestor Ltd raised its holdings in shares of Summit Therapeutics by 2,767.4% during the 3rd quarter. Covestor Ltd now owns 1,233 shares of the company's stock valued at $27,000 after purchasing an additional 1,190 shares in the last quarter. 4.61% of the stock is owned by hedge funds and other institutional investors.

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.