Summit Therapeutics PLC (SMMT) closed the most recent trading day at $3.75, moving +1.08% from the previous trading session. This change outpaced the S&P 500's 0.82% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 0.59%.
Wall Street will be looking for positivity from SMMT as it approaches its next earnings report date. The company is expected to report EPS of -$0.10, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.46 million, up 980% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SMMT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.36% higher within the past month. SMMT is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Summit Therapeutics PLC (SMMT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research