Summit Therapeutics (SMMT) Lifted to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Summit Therapeutics (NASDAQ:SMMT) from a hold rating to a strong-buy rating in a research report released on Friday. They currently have $14.00 target price on the stock.
According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “
SMMT has been the subject of a number of other research reports. HC Wainwright reaffirmed a buy rating and issued a $16.00 price objective on shares of Summit Therapeutics in a report on Friday, December 1st. SunTrust Banks assumed coverage on shares of Summit Therapeutics in a report on Thursday, January 4th. They issued a buy rating and a $24.00 price objective for the company. ValuEngine downgraded shares of Summit Therapeutics from a hold rating to a sell rating in a report on Thursday, October 5th. Canaccord Genuity reaffirmed a buy rating on shares of Summit Therapeutics in a report on Monday, October 16th. Finally, Oppenheimer reissued a buy rating and set a $24.00 price target on shares of Summit Therapeutics in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $21.20.
Summit Therapeutics (NASDAQ SMMT) traded down $0.05 during trading on Friday, reaching $12.68. The firm has a market capitalization of $186.56 and a price-to-earnings ratio of -126.80. Summit Therapeutics has a 1-year low of $8.80 and a 1-year high of $16.86.
Summit Therapeutics (NASDAQ:SMMT) last released its quarterly earnings data on Wednesday, December 6th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.53. Summit Therapeutics had a negative net margin of 0.95% and a negative return on equity of 10.90%. analysts anticipate that Summit Therapeutics will post -0.59 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new position in shares of Summit Therapeutics during the third quarter valued at $628,000. Highbridge Capital Management LLC acquired a new position in shares of Summit Therapeutics during the third quarter valued at $1,004,000. Susquehanna International Group LLP acquired a new position in shares of Summit Therapeutics during the third quarter valued at $1,828,000. Sphera Funds Management LTD. boosted its holdings in shares of Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after acquiring an additional 70,000 shares during the period. Finally, Granite Point Capital Management L.P. boosted its holdings in shares of 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 valued at $3,031,000 after acquiring an additional 125,000 shares during the period. 29.30% of the stock is owned by institutional investors.
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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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