SUMMIT THERAPEU/S (SMMT) Receives $14.71 Consensus Target Price from Analysts

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SUMMIT THERAPEU/S (NASDAQ:SMMT) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.71.

SMMT has been the topic of a number of analyst reports. Canaccord Genuity set a $3.00 price target on SUMMIT THERAPEU/S and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright reduced their price target on SUMMIT THERAPEU/S to $3.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. Janney Montgomery Scott initiated coverage on SUMMIT THERAPEU/S in a research report on Wednesday, May 2nd. They set a “buy” rating and a $27.00 price target on the stock. ValuEngine upgraded SUMMIT THERAPEU/S from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, SunTrust Banks cut SUMMIT THERAPEU/S from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $4.00 in a research note on Wednesday, June 27th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in SUMMIT THERAPEU/S by 376.0% during the first quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock worth $154,000 after purchasing an additional 9,400 shares during the last quarter. Millennium Management LLC lifted its stake in SUMMIT THERAPEU/S by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after purchasing an additional 22,759 shares during the last quarter. Acadian Asset Management LLC bought a new stake in SUMMIT THERAPEU/S during the second quarter worth $261,000. Finally, Renaissance Technologies LLC lifted its stake in SUMMIT THERAPEU/S by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after purchasing an additional 15,600 shares during the last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Shares of NASDAQ:SMMT opened at $2.08 on Friday. The company has a market cap of $32.26 million, a P/E 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 issued its quarterly earnings results on Tuesday, June 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.21. The business had revenue of $5.33 million for 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%. analysts forecast that SUMMIT THERAPEU/S will post -1.67 EPS for the current fiscal year.

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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Analyst Recommendations for SUMMIT THERAPEU/S (NASDAQ:SMMT)

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