Summit Therapeutics PLC (SMMT) Issues Quarterly Earnings Results
Summit Therapeutics PLC (NASDAQ:SMMT) issued its earnings results on Thursday. The company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by $0.28, Morningstar.com reports. Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 514.04%. The company had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million.
Summit Therapeutics PLC (SMMT) traded up 0.31% on Friday, hitting $12.91. The stock had a trading volume of 5,406 shares. The firm’s market cap is $159.84 million. Summit Therapeutics PLC has a 1-year low of $5.31 and a 1-year high of $19.75. The firm’s 50-day moving average price is $13.01 and its 200-day moving average price is $12.00.
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SMMT has been the topic of several analyst reports. Zacks Investment Research raised Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $24.00 target price on Summit Therapeutics PLC and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 target price on shares of Summit Therapeutics PLC in a research report on Friday, June 16th. Finally, ValuEngine raised Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.00.
A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Acadian Asset Management LLC purchased a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 owned by hedge funds and other institutional investors.
About Summit Therapeutics PLC
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).
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