Oppenheimer Holdings Research Analysts Decrease Earnings Estimates for Summit Therapeutics PLC (SMMT)

Summit Therapeutics PLC (NASDAQ:SMMT) – Equities research analysts at Oppenheimer Holdings lowered their Q3 2018 earnings per share (EPS) estimates for shares of Summit Therapeutics PLC in a research note issued to investors on Monday. Oppenheimer Holdings analyst H. Singh now anticipates that the company will post earnings of ($0.73) per share for the quarter, down from their prior estimate of ($0.71). Oppenheimer Holdings has a “Buy” rating and a $24.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Summit Therapeutics PLC’s Q4 2018 earnings at ($0.86) EPS, FY2018 earnings at ($1.19) EPS, FY2019 earnings at ($3.37) EPS, FY2020 earnings at ($6.07) EPS and FY2021 earnings at ($1.06) EPS.

Summit Therapeutics PLC (NASDAQ:SMMT) last posted its quarterly earnings results on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.28). Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. The company had revenue of $25.01 million for the quarter, compared to analyst estimates of $31.37 million.

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A number of other brokerages have also commented on SMMT. Zacks Investment Research raised Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, July 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 target price on shares of Summit Therapeutics PLC in a report on Friday, June 16th. Finally, ValuEngine raised Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.00.

Summit Therapeutics PLC (NASDAQ:SMMT) traded up 3.0357% during midday trading on Thursday, hitting $12.4158. 116,234 shares of the company traded hands. The stock’s market cap is $153.72 million. Summit Therapeutics PLC has a 12-month low of $5.88 and a 12-month high of $19.75. The stock has a 50 day moving average of $14.76 and a 200 day moving average of $13.52.

An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Acadian Asset Management LLC purchased a new position in Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned approximately 0.10% of Summit Therapeutics PLC at the end of the most recent quarter. 21.77% of the stock is currently owned by hedge funds and other institutional investors.

Summit Therapeutics PLC Company Profile

Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

Earnings History and Estimates for Summit Therapeutics PLC (NASDAQ:SMMT)

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