Summit Therapeutics Inc. (NASDAQ:SMMT) finished Friday with a subtraction of -$0.06 to close at $1.72, a downside of -3.37 percent. An average of 1,334,800 shares of common stock have been traded in the last five days. There was a fall of -$0.2200 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,131,245 shares traded, while the 50-day average volume stands at 1,901,614.
SMMT stock has decreased by -21.82% in the last month. The company shares reached their 1-month lowest point of $1.7100 on 08/11/23. With the stock rallying to its 52-week high on 01/04/23, shares of the company touched a low of $0.66 and a high of $5.78 in 52 weeks. It has reached a new high 2 times so far this year and lost -59.53% or -$2.5300 in price. In spite of this, the price is down -70.24% from the 52-week high.
Valuation Metrics
Summit Therapeutics Inc. (SMMT) stock’s beta is -0.84. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2424.86, the price-to-book (PB) ratio at 4.91.
Financial Health
The quick ratio of Summit Therapeutics Inc. for the three months ended September 29 was 14.20, and the current ratio was 14.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.75 and a total debt to equity ratio of 0.75 for the quarter ending September 29. Summit Therapeutics Inc.’s EBITDA margin for the year ending September 29 is -8098.02%. Its gross profit as reported stood at $72.79 million compared to revenue of $0.7 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Summit Therapeutics Inc.’s return on assets was -205.00%.
Earnings Surprise
For the three-month period that ended September 29, Summit Therapeutics Inc. had $172.9 million in cash and short-term investments compared to $100.0 million in total debt. The company posted a net income of -$14.72 million in the quarter, while revenues of -$542.38 million were shrunk -13.93%. The analyst consensus anticipated Summit Therapeutics Inc.’s latest quarter earnings to come in at -$0.29 per share, but it turned out to be -$1, a -244.80% surprise. For the quarter, EBITDA amounted to -$15.32 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Summit Therapeutics Inc. (SMMT) price momentum. RSI 9-day as of the close on 11 August was 33.83%, suggesting the stock is Neutral, with historical volatility in this time frame at 85.76%.
As of today, SMMT’s price is $1.7940 -11.34% or -$0.2200 from its 5-day moving average. SMMT is currently trading -19.63% lower than its 20-day SMA and +5.52% higher than its 100-day SMA. However, the stock’s current price level is +5.52% above the SMA50 and +68.63% above the SMA200.
The stochastic %K and %D were 20.66% and 20.55%, respectively, and the average true range (ATR) was 0.1578. With the 14-day stochastic at 2.20% and the average true range at 0.1638, the RSI (14) stands at 37.19%. The stock has reached -0.0656 on the 9-day MACD Oscillator while the 14-day reading was at -0.1174.
Analyst Ratings
Janney downgraded Summit Therapeutics Inc. (NASDAQ: SMMT) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Summit Therapeutics Inc. (SMMT) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SMMT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is SMMT’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $4.00, with a median target of $4.00. Taking a look at these predictions, the average price target given by analysts for Summit Therapeutics Inc. (SMMT) stock is $4.00.
