Canaccord Genuity Reiterates Buy Rating for Summit Therapeutics PLC (SMMT)
Summit Therapeutics PLC (NASDAQ:SMMT)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a report released on Monday.
Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $24.00 target price on shares of Summit Therapeutics PLC in a research note on Monday, September 11th. Finally, ValuEngine lowered Summit Therapeutics PLC from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Summit Therapeutics PLC presently has an average rating of “Hold” and a consensus target price of $23.50.
Shares of Summit Therapeutics PLC (SMMT) opened at 12.0261 on Monday. The firm’s market capitalization is $148.94 million. Summit Therapeutics PLC has a 52 week low of $7.95 and a 52 week high of $16.86. The firm has a 50 day moving average price of $12.92 and a 200-day moving average price of $12.92.
Summit Therapeutics PLC (NASDAQ:SMMT) last released its earnings results on Thursday, August 31st. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.28). The business had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million. Summit Therapeutics PLC had a negative net margin of 12.44% and a negative return on equity of 29,334.40%. Equities research analysts predict that Summit Therapeutics PLC will post ($0.08) EPS for the current fiscal year.
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A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC purchased a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned about 0.16% of Summit Therapeutics PLC at the end of the most recent reporting period. 21.77% of the stock is currently owned by hedge funds and other institutional investors.
About Summit Therapeutics PLC
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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