Summit Therapeutics (NASDAQ:SMMT) Now Covered by BTIG Research

Stock analysts at BTIG Research initiated coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a research note issued to investors on Tuesday, February 13th, Marketbeat reports. The firm set a “buy” rating and a $33.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 188.97% from the company’s previous close.

A number of other research firms also recently weighed in on SMMT. Oppenheimer increased their target price on shares of Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. ValuEngine upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Summit Therapeutics from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Friday, January 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Summit Therapeutics in a report on Thursday, January 25th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Summit Therapeutics in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.17.

Summit Therapeutics (NASDAQ:SMMT) opened at $11.42 on Tuesday. The company has a market capitalization of $161.70, a PE ratio of -114.20 and a beta of 0.73. Summit Therapeutics has a 52 week low of $8.80 and a 52 week high of $16.86.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings data on Wednesday, December 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.53. The company had revenue of $2.29 million during the quarter, compared to the consensus estimate of $2.32 million. Summit Therapeutics had a negative return on equity of 10.90% and a negative net margin of 0.95%. equities research analysts anticipate that Summit Therapeutics will post -0.46 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Summit Therapeutics by 29.5% in the 4th quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after acquiring an additional 22,759 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Summit Therapeutics by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after purchasing an additional 15,600 shares during the period. Acadian Asset Management LLC boosted its stake in Summit Therapeutics by 192.8% in the 4th quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock worth $1,595,000 after purchasing an additional 94,876 shares during the period. Susquehanna International Group LLP bought a new position in Summit Therapeutics in the 3rd quarter worth about $1,828,000. Finally, Point72 Asset Management L.P. boosted its stake in Summit Therapeutics by 0.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock worth $10,121,000 after purchasing an additional 5,240 shares during the period. 30.25% of the stock is owned by institutional investors.

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Summit Therapeutics Company Profile

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).

Analyst Recommendations for Summit Therapeutics (NASDAQ:SMMT)

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