Summit Therapeutics PLC (SMMT) – What Are Researchers Thinking About This Stock?

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.61.

SMMT has been the topic of several research analyst reports. Leerink Partners raised shares of Summit Therapeutics from an “underperform” rating to a “market perform” rating and increased their price target for the company from $12.00 to $13.00 in a report on Wednesday, August 12th. Guggenheim restated a “buy” rating on shares of Summit Therapeutics in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Thursday, October 15th. UBS Group reiterated a “neutral” rating on shares of Summit Therapeutics in a research note on Wednesday, September 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Summit Therapeutics in a research note on Tuesday, September 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp increased its stake in Summit Therapeutics by 24.4% during the 1st quarter. Fifth Third Bancorp now owns 3,732 shares of the company’s stock worth $71,000 after acquiring an additional 732 shares during the period. Tidal Investments LLC increased its position in shares of Summit Therapeutics by 0.7% in the second quarter. Tidal Investments LLC now owns 121,097 shares of the company’s stock worth $1,764,000 after purchasing an additional 783 shares during the period. Russell Investments Group Ltd. increased its position in shares of Summit Therapeutics by 2.4% in the third quarter. Russell Investments Group Ltd. now owns 42,714 shares of the company’s stock worth $722,000 after purchasing an additional 1,021 shares during the period. GAMMA Investing LLC increased its position in shares of Summit Therapeutics by 61.7% in the third quarter. GAMMA Investing LLC now owns 2,697 shares of the company’s stock worth $46,000 after purchasing an additional 1,029 shares during the period. Finally, IFP Advisors Inc raised its stake in Summit Therapeutics by 792.3% in the third quarter. IFP Advisors Inc now owns 1,508 shares of the company’s stock valued at $26,000 after purchasing an additional 1,339 shares in the last quarter. Institutional investors and hedge funds own 4.61% of the company’s stock.

Summit Therapeutics Stock Performance

Shares of SMMT stock opened at $17.83 on Wednesday. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of -16.66 and a beta of -1.49. The company has a 50-day simple moving average of $16.41 and a 200 day simple moving average of $16.15. Summit Therapeutics has a 52 week low of $12.07 and a 52 week high of $29.23.

Summit Therapeutics Company Profile

Summit Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Its lead candidate is ivonescimab, a bispecific antibody designed to target both PD-1 and VEGF, two pathways involved in tumor growth and the immune response. The company is evaluating the treatment in clinical trials for multiple types of cancer. Summit licensed rights to develop and commercialize ivonescimab from China-based Akeso in 2022. Summit’s licensed territory covers markets outside China, including the United States, Canada, Europe and Japan.