Summit Therapeutics (SMMT) Scheduled to Post Quarterly Earnings on Wednesday

Summit Therapeutics (NASDAQ:SMMT) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Summit Therapeutics to post earnings of ($0.06) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter. On average, analysts expect Summit Therapeutics to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Summit Therapeutics Stock Performance

Shares of Summit Therapeutics stock traded up $0.10 on Tuesday, hitting $3.98. 536,377 shares of the company’s stock were exchanged, compared to its average volume of 2,145,503. The company has a 50-day simple moving average of $4.03 and a 200-day simple moving average of $3.20. The stock has a market capitalization of $2.79 billion, a PE ratio of -2.54 and a beta of -1.21. Summit Therapeutics has a 1 year low of $1.33 and a 1 year high of $5.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 9.30 and a current ratio of 9.30.

Insider Activity

In related news, CEO Mahkam Zanganeh purchased 30,000 shares of Summit Therapeutics stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $3.75 per share, for a total transaction of $112,500.00. Following the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $112,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mahkam Zanganeh purchased 30,000 shares of Summit Therapeutics stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $3.75 per share, for a total transaction of $112,500.00. Following the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at approximately $112,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ankur Dhingra purchased 100,000 shares of Summit Therapeutics stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the completion of the acquisition, the chief financial officer now owns 354,958 shares in the company, valued at approximately $1,331,092.50. The disclosure for this purchase can be found here. Insiders own 83.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus initiated coverage on shares of Summit Therapeutics in a research report on Tuesday, March 26th. They set a “buy” rating and a $8.00 price objective on the stock.

Summit Therapeutics Company Profile

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.