SUMMIT THERAPEU/S (NASDAQ:SMMT) Expected to Post Quarterly Sales of $1.94 Million

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Equities analysts expect SUMMIT THERAPEU/S (NASDAQ:SMMT) to announce sales of $1.94 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for SUMMIT THERAPEU/S’s earnings. The highest sales estimate is $3.28 million and the lowest is $120,000.00. SUMMIT THERAPEU/S reported sales of $660,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 193.9%. The company is scheduled to issue its next earnings results on Wednesday, March 25th.

According to Zacks, analysts expect that SUMMIT THERAPEU/S will report full year sales of $13.70 million for the current fiscal year, with estimates ranging from $750,000.00 to $20.67 million. For the next fiscal year, analysts anticipate that the company will report sales of $10.39 million, with estimates ranging from $600,000.00 to $20.96 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow SUMMIT THERAPEU/S.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last announced its earnings results on Tuesday, December 17th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $4.07 million. SUMMIT THERAPEU/S had a negative net margin of 2,107.69% and a negative return on equity of 59.95%.

Several equities analysts have commented on SMMT shares. Zacks Investment Research downgraded shares of SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded shares of SUMMIT THERAPEU/S from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. SUMMIT THERAPEU/S currently has an average rating of “Hold” and a consensus target price of $1.88.

NASDAQ SMMT traded up $0.01 on Friday, reaching $1.46. The stock had a trading volume of 25,033 shares, compared to its average volume of 59,072. The firm has a market capitalization of $46.55 million, a price-to-earnings ratio of -1.46 and a beta of 1.20. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.02. SUMMIT THERAPEU/S has a 12-month low of $1.13 and a 12-month high of $2.46. The stock has a fifty day moving average price of $1.52 and a two-hundred day moving average price of $1.51.

Several large investors have recently bought and sold shares of the business. Morgan Stanley grew its stake in shares of SUMMIT THERAPEU/S by 7.1% in the second quarter. Morgan Stanley now owns 244,201 shares of the company’s stock worth $309,000 after acquiring an additional 16,245 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of SUMMIT THERAPEU/S in the fourth quarter worth $26,000. First Republic Investment Management Inc. acquired a new position in shares of SUMMIT THERAPEU/S in the fourth quarter worth $80,000. Finally, Renaissance Technologies LLC grew its stake in shares of SUMMIT THERAPEU/S by 69.3% in the fourth quarter. Renaissance Technologies LLC now owns 189,834 shares of the company’s stock worth $304,000 after acquiring an additional 77,728 shares in the last quarter. Institutional investors and hedge funds own 8.22% of the company’s stock.

About SUMMIT THERAPEU/S

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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Earnings History and Estimates for SUMMIT THERAPEU/S (NASDAQ:SMMT)

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