Summit Therapeutics PLC (NASDAQ:SMMT) Expected to Post Quarterly Sales of $31.37 Million

Equities analysts predict that Summit Therapeutics PLC (NASDAQ:SMMT) will post sales of $31.37 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Summit Therapeutics PLC’s earnings. The highest sales estimate is $38.59 million and the lowest is $24.14 million. Summit Therapeutics PLC posted sales of $20,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 156,750%. The firm is scheduled to announce its next earnings results on Thursday, September 14th.

According to Zacks, analysts expect that Summit Therapeutics PLC will report full year sales of $31.37 million for the current year, with estimates ranging from $30.87 million to $45.46 million. For the next year, analysts anticipate that the company will post sales of $11.08 million per share, with estimates ranging from $9.03 million to $13.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Summit Therapeutics PLC.

SMMT has been the subject of a number of research reports. Zacks Investment Research raised shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $24.00 price target on shares of Summit Therapeutics PLC and gave the stock a “buy” rating in a research note on Thursday, June 22nd. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a research note on Friday, June 16th. Finally, ValuEngine raised shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price 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 Summit Therapeutics PLC (NASDAQ:SMMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,850 shares of the company’s stock, valued at approximately $171,000. Acadian Asset Management LLC owned about 0.10% of Summit Therapeutics PLC at the end of the most recent reporting period. 21.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) opened at 14.2575 on Wednesday. The company’s market cap is $176.52 million. The stock’s 50 day moving average is $12.28 and its 200-day moving average is $11.77. Summit Therapeutics PLC has a one year low of $5.31 and a one year high of $19.75.

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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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