Summit Therapeutics PLC (NASDAQ:SMMT) has been given a $28.00 price objective by investment analysts at Canaccord Genuity in a research note issued on Wednesday. The brokerage presently has a a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 95.12% from the company’s current price.
Several other analysts have also weighed in on the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Summit Therapeutics PLC in a report on Wednesday. Needham & Company LLC increased their price target on shares of Summit Therapeutics PLC from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright initiated coverage on shares of Summit Therapeutics PLC in a research note on Friday, September 16th. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, September 14th. Finally, Janney Montgomery Scott initiated coverage on shares of Summit Therapeutics PLC in a research note on Tuesday, June 21st. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $23.80.
Shares of Summit Therapeutics PLC (NASDAQ:SMMT) traded up 2.8474% during mid-day trading on Wednesday, reaching $14.7586. 788,718 shares of the company’s stock traded hands. The company’s 50 day moving average is $7.48 and its 200-day moving average is $7.68. The firm’s market cap is $181.44 million. Summit Therapeutics PLC has a 52 week low of $4.26 and a 52 week high of $19.75.
An institutional investor recently raised its position in Summit Therapeutics PLC stock. AXA raised its position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) by 1.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 382,705 shares of the company’s stock after buying an additional 5,500 shares during the period. AXA owned 3.12% of Summit Therapeutics PLC worth $2,989,000 at the end of the most recent reporting period. 23.43% of the stock is currently owned by institutional investors and hedge funds.
Summit Therapeutics PLC Company Profile
Summit Therapeutics plc, formerly Summit Corporation plc, is a United Kingdom-based biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. The Company is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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