HC Wainwright set a $20.00 price target on Summit Therapeutics (NASDAQ:SMMT) in a report published on Tuesday. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently commented on SMMT. Zacks Investment Research cut shares of Summit Therapeutics from a hold rating to a sell rating in a research report on Wednesday, March 28th. Oppenheimer raised their price target 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 raised shares of Summit Therapeutics from a sell rating to a hold rating in a research report on Friday, February 2nd. BTIG Research started coverage on shares of Summit Therapeutics in a research report on Tuesday, February 13th. They issued a buy rating and a $33.00 price target for the company. Finally, SunTrust Banks started coverage on shares of Summit Therapeutics in a research report on Thursday, January 4th. They issued a buy rating and a $24.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $25.14.
Shares of SMMT stock opened at $13.53 on Tuesday. Summit Therapeutics has a 52 week low of $8.80 and a 52 week high of $16.86. The company has a market capitalization of $192.15, a price-to-earnings ratio of -18.04 and a beta of 0.79.
Summit Therapeutics (NASDAQ:SMMT) last issued its quarterly earnings results on Wednesday, April 11th. The company reported ($1.15) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.91 million. equities research analysts forecast that Summit Therapeutics will post -3.01 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position 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 last quarter. Renaissance Technologies LLC lifted its position 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 last quarter. Finally, Millennium Management LLC lifted its position 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 last quarter. 28.98% of the stock is owned by institutional investors and hedge funds.
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About Summit Therapeutics
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).
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