Summit Therapeutics Inc [NASDAQ: SMMT] price surged by 8.31 percent to reach at $0.34. The company report on January 8, 2024 at 9:00 AM that Summit Therapeutics Announces Updated Phase II Data for Ivonescimab at 42nd Annual J.P. Morgan Healthcare Conference.
Phase II 24-Month OS Rate of 64.8% in 1L Squamous NSCLC Patients.
Phase II mOS of 22.5 Months in 2L+ EGFRm, TKI-progressed NSCLC Patients.
The one-year SMMT stock forecast points to a potential downside of -10.75. The average equity rating for SMMT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Summit Therapeutics Inc [SMMT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMMT shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMMT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Janney have made an estimate for Summit Therapeutics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 28, 2018.
The Average True Range (ATR) for Summit Therapeutics Inc is set at 0.30 The Price to Book ratio for the last quarter was 31.11, with the Price to Cash per share for the same quarter was set at 0.29.
SMMT Stock Performance Analysis:
Summit Therapeutics Inc [SMMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 32.24. With this latest performance, SMMT shares gained by 86.13% in over the last four-week period, additionally plugging by 120.40% over the last 6 months – not to mention a drop of -0.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMMT stock in for the last two-week period is set at 81.17, with the RSI for the last a single of trading hit 86.10, and the three-weeks RSI is set at 77.40 for Summit Therapeutics Inc [SMMT]. The present Moving Average for the last 50 days of trading for this stock 2.55, while it was recorded at 3.84 for the last single week of trading, and 2.04 for the last 200 days.
Insight into Summit Therapeutics Inc Fundamentals:
Summit Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.
SMMT Stock EPS
With the latest financial reports released by the company, Summit Therapeutics Inc posted -1.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12,300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMMT.
Summit Therapeutics Inc [SMMT] Institutonal Ownership Details
The top three institutional holders of SMMT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SMMT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SMMT stock with ownership which is approximately 5.8325%.
