Summit Therapeutics (NASDAQ:SMMT) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $45.00 price objective on the stock.

SMMT has been the subject of a number of other research reports. Jefferies Financial Group downgraded Summit Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $42.00 to $15.00 in a report on Monday, March 16th. HC Wainwright decreased their price objective on Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Citizens Jmp reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a report on Friday, January 30th. Piper Sandler set a $40.00 price objective on Summit Therapeutics in a report on Wednesday, January 14th. Finally, Zacks Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Summit Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Summit Therapeutics Trading Down 2.1%

SMMT opened at $18.81 on Wednesday. The stock has a fifty day simple moving average of $16.08 and a two-hundred day simple moving average of $17.71. The company has a market cap of $14.58 billion, a price-to-earnings ratio of -12.97 and a beta of -1.36. Summit Therapeutics has a 12-month low of $13.83 and a 12-month high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings data 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, analysts predict that Summit Therapeutics will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Summit Therapeutics

Several institutional investors have recently modified their holdings of SMMT. AQR Capital Management LLC boosted its position in shares of Summit Therapeutics by 5.0% during the first quarter. AQR Capital Management LLC now owns 65,623 shares of the company’s stock valued at $1,266,000 after buying an additional 3,134 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Summit Therapeutics by 1.1% during the first 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 last quarter. Creative Planning boosted its position in shares of Summit Therapeutics by 6.7% during the second quarter. Creative Planning now owns 21,390 shares of the company’s stock valued at $455,000 after buying an additional 1,336 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Summit Therapeutics by 33.8% during the second quarter. Legal & General Group Plc now owns 26,367 shares of the company’s stock valued at $561,000 after buying an additional 6,662 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Summit Therapeutics during the second quarter valued at $132,000. 4.61% of the stock is owned by hedge funds and other institutional investors.

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.