SunTrust Banks Comments on Summit Therapeutics PLC’s FY2018 Earnings (SMMT)

Summit Therapeutics PLC (NASDAQ:SMMT) – SunTrust Banks issued their FY2018 earnings estimates for Summit Therapeutics in a research note issued to investors on Thursday. SunTrust Banks analyst E. Nash anticipates that the company will earn ($0.50) per share for the year. SunTrust Banks has a “Buy” rating and a $24.00 price target on the stock. SunTrust Banks also issued estimates for Summit Therapeutics’ Q4 2018 earnings at ($0.90) EPS, Q1 2019 earnings at ($0.75) EPS, Q2 2019 earnings at ($0.85) EPS, Q3 2019 earnings at ($1.05) EPS, Q4 2019 earnings at ($1.25) EPS, FY2019 earnings at ($3.90) EPS, FY2020 earnings at ($3.55) EPS, FY2021 earnings at ($3.30) EPS and FY2022 earnings at $8.05 EPS.

Several other research firms also recently weighed in on SMMT. Canaccord Genuity reissued a “buy” rating and set a $28.00 target price on shares of Summit Therapeutics in a research report on Monday, September 11th. Oppenheimer reissued a “buy” rating and set a $24.00 target price on shares of Summit Therapeutics in a research report on Monday, September 11th. Zacks Investment Research downgraded Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine downgraded Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Summit Therapeutics in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Summit Therapeutics presently has an average rating of “Buy” and a consensus target price of $21.00.

Shares of Summit Therapeutics (NASDAQ:SMMT) opened at $11.08 on Monday. The stock has a market capitalization of $153.39, a P/E ratio of -110.80 and a beta of 0.37. Summit Therapeutics has a twelve month low of $8.75 and a twelve month high of $16.86.

A number of institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new position in Summit Therapeutics in the 3rd quarter valued at $1,828,000. Point72 Asset Management L.P. grew its position in Summit Therapeutics by 0.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock valued at $10,121,000 after acquiring an additional 5,240 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Summit Therapeutics in the 3rd quarter valued at $1,004,000. Alyeska Investment Group L.P. bought a new position in Summit Therapeutics in the 3rd quarter valued at $628,000. Finally, Granite Point Capital Management L.P. grew its position in Summit Therapeutics by 106.7% in the 3rd quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after acquiring an additional 125,000 shares during the last quarter. 29.30% of the stock is currently owned by institutional investors.

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Summit Therapeutics Company Profile

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).

Earnings History and Estimates for Summit Therapeutics (NASDAQ:SMMT)

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