Summit Therapeutics PLC (NASDAQ:SMMT) Given Average Recommendation of “Moderate Buy” by Analysts

Summit Therapeutics PLC (NASDAQ:SMMT) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.8333.

Several research analysts have issued reports on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Summit Therapeutics in a report on Friday, January 30th. Piper Sandler set a $40.00 price target on shares of Summit Therapeutics in a report on Wednesday, January 14th. Truist Financial raised shares of Summit Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Zacks Research upgraded shares of Summit Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, HC Wainwright lowered their price objective on Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Summit Therapeutics during the fourth quarter valued at $28,000. Crowley Wealth Management Inc. raised its position in Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock worth $31,000 after buying an additional 600 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Summit Therapeutics by 2,654.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock valued at $33,000 after acquiring an additional 1,805 shares during the period. Parallel Advisors LLC bought a new position in Summit Therapeutics during the 3rd quarter valued at about $39,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Summit Therapeutics by 200.2% during the 4th quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock valued at $46,000 after acquiring an additional 1,736 shares during the last quarter. 4.61% of the stock is owned by institutional investors.

Summit Therapeutics Price Performance

Shares of NASDAQ:SMMT opened at $16.98 on Tuesday. Summit Therapeutics has a 1-year low of $13.83 and a 1-year high of $36.91. The business has a fifty day moving average price of $15.71 and a 200-day moving average price of $17.68. The company has a market capitalization of $13.17 billion, a PE ratio of -11.71 and a beta of -1.43.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). On average, sell-side analysts anticipate that Summit Therapeutics will post -0.3 earnings per share for the current fiscal year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.