SMMT Price Prediction Next Week
Technical Analysis: SMMT shows a strong upward momentum with RSI-14 at 55.62, indicating a neutral-to-bullish sentiment. The stock is trading above all major moving averages (SMA 5, 10, 20, 60, 200, 250), suggesting a robust long-term uptrend.
Price Action & Volume:
- Recent close: $4.64 (Feb 23)
- Significant volume increase: 6.32M shares on Feb 20
- Current price showing recovery after recent pullback
- Trading above 20-day moving average ($21.43)
Technical Indicators:
- MACD (12,26,9): Positive at 0.48 with histogram at 0.09
- Stochastic (14,3,3): K=77.50, D=68.78 indicating overbought conditions
- Bollinger Bands: Price near middle band (21.43) with upper band at 25.33
News Impact: SMMT is scheduled to report Q4 2024 earnings on February 24, 2025. Analysts expect EPS of -$0.08, representing a 60% decrease year-over-year.
Price Prediction (Next Week): Based on Fibonacci levels and technical indicators:
- Support levels: $19.01, $17.65
- Resistance levels: $23.41, $24.77
- Target price range: $23.00 - $24.00
Trading Recommendation: SELL Rationale:
- Overbought conditions on stochastic
- Negative earnings expectations
- Price approaching resistance levels
- Recent price action showing signs of momentum exhaustion
SMMT Similar Chart Price Prediction
The price of SMMT is predicted to go up -4.5%, based on the high correlation periods with AEHR. The similarity of these two price pattern on the periods is 94.44%.
SMMT
AEHR
Down: -4.5%Similarity: 94.44%
SMMT Revenue Forecast
SMMT EPS Forecast
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SMMT Analyst's Forecast
Asthika Goonewardene
Truist Securities
Strong Buy
2025-01-08
Price Target
$35
Upside
+85.97%
Truist initiated coverage of Summit Therapeutics with a Buy rating and $35 price target. Summit is a biotech company built around ivonescimab, the most clinically advanced asset in a novel class of drugs that has potential to surpass the most successful drug class in oncology, the analyst tells investors in a research note. The firm says two pivotal trials in lung cancer are underway, and that it thinks the data will be positive and enable ivonescimab to access the U.S. and European markets beginning in 2026. While lung cancer represents a substantial opportunity, the total addressable market for ivonescimab is much broader, contends Truist. It believes Summit could be a takeober target for a large biopharma company with the development capabilities that can maximize ivonescimab's potential.
Mohit Bansal
Wells Fargo
Buy
2024-12-11
Price Target
$30
Upside
+59.83%
Brent Thill
Jefferies
Strong Buy
2024-12-06
Price Target
$31
Upside
+67.21%
