Zacks Investment Research downgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued reports about the company. TheStreet raised SUMMIT THERAPEU/S from a d rating to a c- rating in a research report on Thursday, June 13th. ValuEngine raised SUMMIT THERAPEU/S from a sell rating to a hold rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. SUMMIT THERAPEU/S has a consensus rating of Hold and an average price target of $1.75.

NASDAQ SMMT opened at $1.26 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.93 and a quick ratio of 3.93. The stock’s fifty day moving average price is $1.33 and its 200 day moving average price is $1.60. SUMMIT THERAPEU/S has a 1 year low of $1.10 and a 1 year high of $2.50. The company has a market cap of $17.53 million, a price-to-earnings ratio of 1.41 and a beta of 1.22.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last announced its quarterly earnings results on Wednesday, June 12th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.11. The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $4.34 million. SUMMIT THERAPEU/S had a return on equity of 26.31% and a net margin of 24.32%. Research analysts expect that SUMMIT THERAPEU/S will post -1.08 earnings per share for the current year.

A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Bank of New York Mellon Corp boosted its stake in shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) by 120.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 216,897 shares of the company’s stock after purchasing an additional 118,501 shares during the period. Bank of New York Mellon Corp owned approximately 1.57% of SUMMIT THERAPEU/S worth $274,000 at the end of the most recent quarter. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

About SUMMIT THERAPEU/S

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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