Summit Therapeutics PLC (NASDAQ:SMMT) Stock Has Consensus Target Price of $25.91 According to Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.91.

A number of equities research analysts have recently weighed in on SMMT shares. Wall Street Zen upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Sanford C. Bernstein upgraded shares of Summit Therapeutics from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $9.80 to $11.90 in a research note on Tuesday, August 25th. Summit Redstone set a $25.00 target price on shares of Summit Therapeutics in a research note on Wednesday, September 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Summit Therapeutics in a research report on Tuesday. Finally, Stifel Nicolaus cut their price target on shares of Summit Therapeutics from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 24th.

Institutional Investors Weigh In On Summit Therapeutics

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in Summit Therapeutics by 0.7% in the 2nd quarter. Tidal Investments LLC now owns 121,097 shares of the company’s stock worth $1,764,000 after acquiring an additional 783 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Summit Therapeutics during the 2nd quarter worth about $989,000. Nykredit A S purchased a new stake in Summit Therapeutics during the 2nd quarter valued at about $111,000. AXQ Capital LP grew its stake in Summit Therapeutics by 98.1% during the 2nd quarter. AXQ Capital LP now owns 93,624 shares of the company’s stock valued at $1,364,000 after purchasing an additional 46,356 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of Summit Therapeutics in the second quarter valued at about $182,000. 4.61% of the stock is owned by hedge funds and other institutional investors.

Summit Therapeutics Price Performance

Shares of SMMT stock opened at $16.38 on Tuesday. Summit Therapeutics has a 1-year low of $12.07 and a 1-year high of $29.23. The stock’s fifty day moving average price is $14.86 and its 200 day moving average price is $16.33. The company has a market cap of $13.07 billion, a price-to-earnings ratio of -14.62 and a beta of -1.24.

Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings results on Thursday, July 23rd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). As a group, equities research analysts anticipate that Summit Therapeutics will post -1.2 earnings per share for the current year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing innovative medicines for the treatment of cancer. The company’s lead program is ivonescimab, an investigational bispecific antibody designed to combine immune checkpoint inhibition against PD-1 with selective inhibition of vascular endothelial growth factor A (VEGF-A). Summit is evaluating ivonescimab in clinical studies involving patients with non-small cell lung cancer and other solid tumors.

Summit has entered into a licensing and collaboration agreement with Akeso, a biotechnology company that discovered and developed ivonescimab.