Summit Therapeutics PLC (NASDAQ:SMMT) had its price target hoisted by Needham & Company LLC from $22.00 to $30.00 in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also recently issued reports on SMMT. Zacks Investment Research raised Summit Therapeutics PLC from a sell rating to a hold rating in a report on Tuesday, June 14th. Canaccord Genuity reissued a buy rating on shares of Summit Therapeutics PLC in a report on Thursday, June 16th. Oppenheimer Holdings Inc. reissued a buy rating on shares of Summit Therapeutics PLC in a report on Thursday, June 16th. Janney Montgomery Scott assumed coverage on Summit Therapeutics PLC in a report on Tuesday, June 21st. They issued a buy rating for the company. Finally, HC Wainwright assumed coverage on Summit Therapeutics PLC in a report on Friday, September 16th. They issued a buy rating and a $26.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, Summit Therapeutics PLC has a consensus rating of Buy and an average price target of $23.80.
Summit Therapeutics PLC (NASDAQ:SMMT) opened at 13.37 on Tuesday. The company’s market cap is $164.37 million. Summit Therapeutics PLC has a 12-month low of $4.26 and a 12-month high of $19.75. The firm has a 50-day moving average price of $7.88 and a 200-day moving average price of $7.77.
An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Granite Point Capital Management L.P. purchased a new position in Summit Therapeutics PLC (NASDAQ:SMMT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 112,676 shares of the company’s stock, valued at approximately $891,000. Granite Point Capital Management L.P. owned 0.92% of Summit Therapeutics PLC as of its most recent SEC filing. 23.43% of the stock is owned by hedge funds and other institutional investors.
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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