Summit Therapeutics (NASDAQ:SMMT) Given “Market Outperform” Rating at Citizens Jmp

Summit Therapeutics (NASDAQ:SMMT)‘s stock had its “market outperform” rating reaffirmed by analysts at Citizens Jmp in a report issued on Friday,Benzinga reports. They currently have a $40.00 price target on the stock. Citizens Jmp’s price target suggests a potential upside of 159.74% from the company’s previous close.

Several other equities research analysts also recently weighed in on SMMT. Zacks Research upgraded shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. HC Wainwright reissued a “buy” rating on shares of Summit Therapeutics in a report on Wednesday, January 14th. Citigroup restated a “market outperform” rating on shares of Summit Therapeutics in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Summit Therapeutics in a report on Monday, October 20th. Finally, Summit Redstone set a $18.00 price objective on shares of Summit Therapeutics in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.62.

Summit Therapeutics Price Performance

SMMT stock opened at $15.40 on Friday. The company has a market cap of $11.88 billion, a price-to-earnings ratio of -12.42 and a beta of -1.51. The company has a fifty day moving average price of $17.53 and a 200 day moving average price of $20.75. Summit Therapeutics has a 12 month low of $15.17 and a 12 month high of $36.91.

Hedge Funds Weigh In On Summit Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Summit Therapeutics by 24.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,991 shares of the company’s stock valued at $664,000 after buying an additional 7,403 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Summit Therapeutics by 3.7% during the 4th quarter. Farther Finance Advisors LLC now owns 57,282 shares of the company’s stock valued at $1,002,000 after acquiring an additional 2,046 shares in the last quarter. Tema Etfs LLC raised its position in Summit Therapeutics by 19.3% during the fourth quarter. Tema Etfs LLC now owns 95,782 shares of the company’s stock worth $1,675,000 after acquiring an additional 15,498 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Summit Therapeutics by 204.7% in the fourth quarter. SG Americas Securities LLC now owns 15,589 shares of the company’s stock valued at $273,000 after purchasing an additional 10,472 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Summit Therapeutics in the fourth quarter valued at about $1,043,000. 4.61% of the stock is owned by institutional investors and hedge funds.

Summit Therapeutics Company Profile

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.