SUMMIT THERAPEU/S (SMMT) Rating Lowered to Hold at Zacks Investment Research

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SUMMIT THERAPEU/S (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

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. “

A number of other equities research analysts also recently weighed in on SMMT. HC Wainwright set a $20.00 target price on SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research report on Tuesday, April 24th. ValuEngine upgraded SUMMIT THERAPEU/S from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Janney Montgomery Scott started coverage on SUMMIT THERAPEU/S in a research report on Wednesday, May 2nd. They issued a “buy” rating and a $27.00 target price for the company. Canaccord Genuity restated a “buy” rating and issued a $28.00 target price on shares of SUMMIT THERAPEU/S in a research report on Tuesday, June 12th. Finally, SunTrust Banks downgraded SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $4.00 in a research report on Wednesday, June 27th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $14.63.

SMMT opened at $2.08 on Friday. The company has a market capitalization of $32.26 million, a price-to-earnings ratio of -2.77 and a beta of 0.81. SUMMIT THERAPEU/S has a 1-year low of $1.94 and a 1-year high of $16.86.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last released its earnings results on Tuesday, June 5th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.21. The firm had revenue of $5.33 million during the quarter, compared to the consensus estimate of $6.48 million. SUMMIT THERAPEU/S had a negative return on equity of 105.24% and a negative net margin of 33.36%. equities analysts predict that SUMMIT THERAPEU/S will post -1.67 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of SUMMIT THERAPEU/S by 376.0% during the 1st quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock valued at $154,000 after acquiring an additional 9,400 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of SUMMIT THERAPEU/S during the 2nd quarter valued at $261,000. Millennium Management LLC lifted its position in shares of SUMMIT THERAPEU/S by 29.5% during the 4th quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after acquiring an additional 22,759 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of SUMMIT THERAPEU/S by 15.4% during the 4th quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock valued at $1,292,000 after acquiring an additional 15,600 shares during the last quarter. Institutional investors own 30.08% of the company’s stock.

SUMMIT THERAPEU/S Company Profile

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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