HC Wainwright Issues Pessimistic Outlook for SMMT Earnings

Summit Therapeutics Inc. (NASDAQ:SMMT) – Research analysts at HC Wainwright reduced their Q1 2025 earnings estimates for Summit Therapeutics in a research note issued to investors on Tuesday, February 25th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.09) per share for the quarter, down from their previous forecast of ($0.08). HC Wainwright currently has a “Buy” rating and a $44.00 target price on the stock. The consensus estimate for Summit Therapeutics’ current full-year earnings is ($0.30) per share. HC Wainwright also issued estimates for Summit Therapeutics’ Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.39) EPS.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $0.20 million during the quarter.

SMMT has been the topic of a number of other research reports. StockNews.com lowered shares of Summit Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. JMP Securities assumed coverage on shares of Summit Therapeutics in a research report on Monday, November 4th. They issued a “market outperform” rating and a $32.00 price objective on the stock. Jefferies Financial Group assumed 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. The Goldman Sachs Group assumed coverage on shares of Summit Therapeutics in a research report on Friday. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Summit Therapeutics in a research report on Wednesday, December 11th. They set an “overweight” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.63.

Summit Therapeutics Stock Up 11.9 %

Shares of SMMT stock opened at $20.69 on Friday. The company’s fifty day simple moving average is $19.99 and its 200-day simple moving average is $19.25. The firm has a market cap of $15.26 billion, a PE ratio of -73.89 and a beta of -0.88. Summit Therapeutics has a 12 month low of $2.10 and a 12 month high of $33.89.

Hedge Funds Weigh In On Summit Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP increased its holdings in shares of Summit Therapeutics by 5.2% in the third quarter. Baker BROS. Advisors LP now owns 24,424,865 shares of the company’s stock valued at $534,905,000 after purchasing an additional 1,202,643 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Summit Therapeutics in the third quarter valued at $2,178,000. FMR LLC increased its holdings in shares of Summit Therapeutics by 9.8% in the third quarter. FMR LLC now owns 8,303,119 shares of the company’s stock valued at $181,838,000 after purchasing an additional 737,692 shares during the last quarter. Griffin Asset Management Inc. increased its holdings in shares of Summit Therapeutics by 63.3% in the fourth quarter. Griffin Asset Management Inc. now owns 110,660 shares of the company’s stock valued at $1,975,000 after purchasing an additional 42,900 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Summit Therapeutics in the fourth quarter valued at $444,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

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.