Summit Therapeutics (NASDAQ:SMMT) Issues Quarterly Earnings Results

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

Summit Therapeutics Stock Down 4.1 %

NASDAQ:SMMT opened at $22.12 on Monday. The business’s 50-day moving average price is $19.91 and its 200 day moving average price is $19.09. Summit Therapeutics has a 52-week low of $2.10 and a 52-week high of $33.89. The firm has a market cap of $16.31 billion, a P/E ratio of -79.00 and a beta of -0.88.

Analyst Upgrades and Downgrades

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

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.