Summit Therapeutics Inc. (NASDAQ:SMMT) saw an upside of 14.00% to $2.00 after adding $0.25 on Wednesday. The 5-day average trading volume is 932,753 shares of the company’s common stock. It has gained $2.0900 in the past week and touched a new high 3 times within the past 5 days. An average of 1,052,248 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,927,301.
SMMT’s 1-month performance is -3.62% or -$0.1050 on its low of $1.7300 reached on 08/08/23. The company’s shares have touched a 52-week low of $0.66 and high of $5.78, with the stock’s rally to the 52-week high happening on 01/04/23. YTD, SMMT has lost -53.06% or -$2.1700 and has reached a new high 2 times. However, the current price is down -65.48% from the 52-week high price.
Valuation Metrics
SMMT stock has a beta of -0.85. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2812.55 while the price-to-book (PB) in the most recent quarter is 5.70.
Summit Therapeutics Inc.’s quick ratio for the period ended September 29 was 14.20, with the current ratio over the same period at 14.20. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.75, while the total debt to equity was 0.75. The trailing 12-month EBITDA margin is -8098.02%. The firm’s gross profit as reported stood at $72.79 million against revenue of $0.7 million.
Earnings Surprise
For the quarterly period ending September 29 this year, Summit Therapeutics Inc.’s cash and short-term investments amounted to $170.96 million against total debt of $104.18 million. Net income grew 96.05% to -$542.38 million, while revenue of -$19.23 million was 96.45% off the previous quarter. Analysts expected SMMT to announce -$0.29 per share in earnings in its latest quarter, but it posted -$1, representing a -244.80% surprise. EBITDA for the quarter stood at more than -$536.78 million. SMMT stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 121.42 million, with total debt at $104.18 million. Shareholders hold equity totaling $697.68 million.
Let’s look briefly at Summit Therapeutics Inc. (SMMT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 55.18% to suggest the stock is trending Neutral, with historical volatility in this time period at 119.05%.
The stock’s 5-day moving average is $1.9020, reflecting a +6.67% or $0.1300 change from its current price. SMMT is currently trading -1.42% above its 20-day SMA, +13.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +26.06% and SMA200 by+73.33%.
Stochastic %K and %D was 30.35% and 19.15% and the average true range (ATR) pointed at 0.1646. The RSI (14) points at 51.87%, while the 14-day stochastic is at 80.46% with the period’s ATR at 0.1687. The stock’s 9-day MACD Oscillator is pointing at -0.1044 and -0.1057 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Summit Therapeutics Inc. (NASDAQ: SMMT), Janney downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for SMMT stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate SMMT as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is SMMT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $4.00 and a high of $4.00, with their median price target at $4.00. Looking at these predictions, the average price target given by analysts is for Summit Therapeutics Inc. (SMMT) stock is $4.00.
