Summit Therapeutics PLC (NASDAQ:SMMT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Summit Therapeutics PLC (NASDAQ:SMMT) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $33.6154.

A number of equities research analysts have recently commented 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. Citigroup reaffirmed a “market outperform” rating on shares of Summit Therapeutics in a research report on Friday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Summit Therapeutics in a research note on Monday, February 2nd. Summit Redstone set a $18.00 target price on Summit Therapeutics in a report on Wednesday, December 17th. Finally, Guggenheim reiterated a “buy” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research report on Wednesday, October 22nd.

Summit Therapeutics Trading Up 8.2%

Shares of SMMT opened at $14.99 on Monday. The company’s 50 day simple moving average is $17.15 and its 200-day simple moving average is $20.15. The firm has a market cap of $11.56 billion, a PE ratio of -12.09 and a beta of -1.44. Summit Therapeutics has a 12-month low of $13.83 and a 12-month high of $36.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Summit Therapeutics by 5.0% during the first quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock worth $1,266,000 after purchasing an additional 3,134 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Summit Therapeutics by 1.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,411 shares of the company’s stock valued at $1,273,000 after buying an additional 694 shares during the period. IFP Advisors Inc lifted its holdings in shares of Summit Therapeutics by 4,264.0% in the 2nd quarter. IFP Advisors Inc now owns 4,364 shares of the company’s stock valued at $93,000 after buying an additional 4,264 shares during the period. APEIRON CAPITAL Ltd purchased a new stake in shares of Summit Therapeutics in the second quarter valued at approximately $25,556,000. Finally, Griffin Asset Management Inc. boosted its stake in shares of Summit Therapeutics by 1.9% in the second quarter. Griffin Asset Management Inc. now owns 119,382 shares of the company’s stock valued at $2,540,000 after buying an additional 2,172 shares in the last quarter. 4.61% of the stock is currently owned by institutional investors and hedge funds.

Summit Therapeutics Company Profile

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.