Summit Therapeutics (SMMT) Receives Consensus Rating of “Buy” from Analysts

Summit Therapeutics (NASDAQ:SMMT) has received an average rating of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.80.

Several equities analysts have weighed in on the company. ValuEngine upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday. Oppenheimer lifted their target price on Summit Therapeutics from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Summit Therapeutics in a research note on Thursday, January 25th. Finally, Needham & Company LLC lowered their target price on Summit Therapeutics from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, April 12th.

NASDAQ:SMMT traded up $0.13 during trading hours on Friday, hitting $13.88. 60,628 shares of the company traded hands, compared to its average volume of 43,913. Summit Therapeutics has a one year low of $8.80 and a one year high of $16.86. The stock has a market cap of $190.35, a PE ratio of -18.51 and a beta of 0.80.

Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings data on Wednesday, April 11th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.34). Summit Therapeutics had a negative net margin of 30.89% and a negative return on equity of 146.46%. The company had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.91 million. equities research analysts forecast that Summit Therapeutics will post -2.74 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Summit Therapeutics by 29.5% during the 4th quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after purchasing an additional 22,759 shares during the period. Renaissance Technologies LLC raised its stake in shares of Summit Therapeutics by 15.4% during 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 raised its stake in shares of Summit Therapeutics by 192.8% during 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 stake in shares of Summit Therapeutics during the 3rd quarter worth $1,828,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Summit Therapeutics by 0.7% during 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. Institutional investors own 29.03% of the company’s stock.

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Summit Therapeutics Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes 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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