SUMMIT THERAPEU/S (SMMT) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $2.25 price objective 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. “

Several other equities analysts also recently commented on the stock. HC Wainwright set a $3.00 price objective on shares of SUMMIT THERAPEU/S and gave the company a buy rating in a research note on Friday, August 24th. Canaccord Genuity set a $3.00 price objective on shares of SUMMIT THERAPEU/S and gave the company a buy rating in a research note on Thursday, August 16th. Janney Montgomery Scott downgraded shares of SUMMIT THERAPEU/S from a buy rating to a neutral rating and lowered their price objective for the company from $27.00 to $3.00 in a research note on Thursday, June 28th. JMP Securities downgraded shares of SUMMIT THERAPEU/S to a market perform rating in a research note on Thursday, June 28th. Finally, ValuEngine downgraded shares of SUMMIT THERAPEU/S from a buy rating to a hold rating in a research note on Wednesday, June 27th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. SUMMIT THERAPEU/S has an average rating of Buy and an average target price of $13.16.

SUMMIT THERAPEU/S stock opened at $2.22 on Wednesday. SUMMIT THERAPEU/S has a twelve month low of $1.94 and a twelve month high of $16.86.

SUMMIT THERAPEU/S (NASDAQ:SMMT) last issued its quarterly earnings data on Tuesday, June 5th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate 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 net margin of 33.36% and a negative return on equity of 105.24%. equities analysts forecast that SUMMIT THERAPEU/S will post -1.64 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of SUMMIT THERAPEU/S by 376.0% during the first quarter. Royal Bank of Canada now owns 11,900 shares of the company’s stock valued at $154,000 after buying an additional 9,400 shares during the period. Millennium Management LLC increased its position in shares of SUMMIT THERAPEU/S by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock valued at $1,107,000 after buying an additional 22,759 shares during the period. Acadian Asset Management LLC purchased a new position in shares of SUMMIT THERAPEU/S during the second quarter valued at about $261,000. Finally, Renaissance Technologies LLC increased its position in shares of SUMMIT THERAPEU/S by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock valued at $1,292,000 after buying an additional 15,600 shares during the period. 24.93% of the stock is owned by hedge funds and other institutional investors.

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).

Further Reading: Leveraged Buyout (LBO) Explained

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

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