Equities Analysts Offer Predictions for SMMT Q1 Earnings

Summit Therapeutics Inc. (NASDAQ:SMMT) – Investment analysts at HC Wainwright dropped their Q1 2025 earnings per share estimates for Summit Therapeutics in a research report issued to clients and investors on Tuesday, February 25th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.09) per share for the quarter, down from their prior forecast of ($0.08). HC Wainwright has a “Buy” rating and a $44.00 price objective 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.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.20 million during the quarter.

Several other equities analysts also recently commented on the stock. JMP Securities began coverage on shares of Summit Therapeutics in a report on Monday, November 4th. They set a “market outperform” rating and a $32.00 price target on the stock. StockNews.com cut Summit Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Financial Group started coverage on Summit Therapeutics in a research note on Friday, December 6th. They set a “buy” rating and a $31.00 price target for the company. Wells Fargo & Company began coverage on Summit Therapeutics in a report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Truist Financial began coverage on Summit Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Summit Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $33.57.

Summit Therapeutics Trading Up 1.0 %

Shares of SMMT opened at $18.49 on Friday. The company’s fifty day simple moving average is $19.93 and its 200-day simple moving average is $19.19. The company has a market cap of $13.64 billion, a P/E ratio of -66.03 and a beta of -0.88. Summit Therapeutics has a twelve month low of $2.10 and a twelve month high of $33.89.

Institutional Investors Weigh In On Summit Therapeutics

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