Summit Therapeutics (NASDAQ:SMMT) Releases Quarterly Earnings Results

Summit Therapeutics (NASDAQ:SMMT) announced its quarterly earnings data on Monday. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08), Zacks reports.

Summit Therapeutics Price Performance

Shares of SMMT opened at $22.12 on Monday. The business’s 50-day moving average is $19.91 and its 200-day moving average is $19.09. The company has a market capitalization of $16.31 billion, a price-to-earnings ratio of -79.00 and a beta of -0.88. Summit Therapeutics has a fifty-two week low of $2.10 and a fifty-two week high of $33.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SMMT shares. Jefferies Financial Group began coverage on Summit Therapeutics in a research report on Friday, December 6th. They set a “buy” rating and a $31.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $44.00 price objective on shares of Summit Therapeutics in a report on Tuesday, January 21st. Wells Fargo & Company assumed coverage on shares of Summit Therapeutics in a research note on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price objective for the company. JMP Securities initiated coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 target price on the stock. Finally, Truist Financial assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.57.

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.