Summit Therapeutics (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, December 28th.
According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “
SMMT has been the topic of a number of other research reports. Oppenheimer reiterated a “buy” rating and set a $24.00 price target on shares of Summit Therapeutics in a research report on Monday, September 11th. Canaccord Genuity reiterated a “buy” rating on shares of Summit Therapeutics in a research report on Monday, October 16th. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Summit Therapeutics in a report on Thursday, December 7th. Finally, ValuEngine cut Summit Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $21.00.
Summit Therapeutics (NASDAQ SMMT) opened at $12.43 on Thursday. The stock has a market capitalization of $181.36 and a P/E ratio of -110.80. Summit Therapeutics has a 1 year low of $8.80 and a 1 year high of $16.86.
Several institutional investors have recently made changes to their positions in SMMT. Renaissance Technologies LLC acquired a new position in shares of Summit Therapeutics during the first quarter valued at approximately $267,000. Alyeska Investment Group L.P. acquired a new position in shares of Summit Therapeutics during the third quarter valued at approximately $628,000. Highbridge Capital Management LLC acquired a new position in shares of Summit Therapeutics during the third quarter valued at approximately $1,004,000. Susquehanna International Group LLP acquired a new position in shares of Summit Therapeutics during the third quarter valued at approximately $1,828,000. Finally, Sphera Funds Management LTD. raised its holdings in shares of Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after acquiring an additional 70,000 shares during the last quarter. 29.30% of the stock is owned by institutional investors and hedge funds.
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About Summit Therapeutics
Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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