Summit Therapeutics PLC (SMMT) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.33.
SMMT has been the topic of a number of research reports. SunTrust Banks initiated coverage on Summit Therapeutics in a report on Thursday. They issued a “buy” rating and a $24.00 price target on the stock. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of Summit Therapeutics in a report on Monday, September 11th. Oppenheimer restated a “buy” rating and issued a $24.00 price target on shares of Summit Therapeutics in a report on Monday, September 11th. HC Wainwright set a $16.00 price target on Summit Therapeutics and gave the company a “buy” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. bought a new stake in Summit Therapeutics during the third quarter worth about $628,000. Highbridge Capital Management LLC bought a new stake in Summit Therapeutics during the third quarter worth about $1,004,000. Susquehanna International Group LLP bought a new stake in Summit Therapeutics during the third quarter worth about $1,828,000. Sphera Funds Management LTD. raised its holdings in Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock worth $2,654,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Granite Point Capital Management L.P. raised its holdings in Summit Therapeutics by 106.7% during the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock worth $3,031,000 after acquiring an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 29.30% of the company’s stock.
Shares of Summit Therapeutics (NASDAQ SMMT) traded down $0.06 during trading on Thursday, hitting $11.14. The stock had a trading volume of 12,200 shares, compared to its average volume of 18,650. The company has a market capitalization of $163.90 and a price-to-earnings ratio of -111.40. Summit Therapeutics has a 12 month low of $8.45 and a 12 month high of $16.86.
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About Summit Therapeutics
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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