Summit Therapeutics’ (SMMT) Market Outperform Rating Reiterated at Citizens Jmp

Summit Therapeutics (NASDAQ:SMMT)‘s stock had its “market outperform” rating reissued by Citizens Jmp in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Citizens Jmp’s price target points to a potential upside of 159.74% from the stock’s current price.

A number of other equities analysts have also recently weighed in on SMMT. Barclays raised shares of Summit Therapeutics from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $16.00 to $18.00 in a research report on Wednesday, December 17th. Piper Sandler set a $40.00 price target on Summit Therapeutics in a research report on Wednesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Thursday, January 22nd. Finally, Wolfe Research initiated coverage on Summit Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.62.

Summit Therapeutics Trading Down 1.5%

NASDAQ SMMT opened at $15.40 on Friday. The stock has a fifty day simple moving average of $17.53 and a 200-day simple moving average of $20.75. The stock has a market cap of $11.88 billion, a PE ratio of -12.42 and a beta of -1.51. Summit Therapeutics has a twelve month low of $15.17 and a twelve month high of $36.91.

Institutional Investors Weigh In On Summit Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SMMT. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Summit Therapeutics by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,991 shares of the company’s stock worth $664,000 after buying an additional 7,403 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Summit Therapeutics by 3.7% in the fourth quarter. Farther Finance Advisors LLC now owns 57,282 shares of the company’s stock valued at $1,002,000 after acquiring an additional 2,046 shares in the last quarter. Tema Etfs LLC boosted its stake in Summit Therapeutics by 19.3% in the fourth quarter. Tema Etfs LLC now owns 95,782 shares of the company’s stock valued at $1,675,000 after acquiring an additional 15,498 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Summit Therapeutics by 204.7% during the fourth quarter. SG Americas Securities LLC now owns 15,589 shares of the company’s stock worth $273,000 after purchasing an additional 10,472 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Summit Therapeutics during the fourth quarter worth about $1,043,000. 4.61% of the stock is currently owned by institutional investors and hedge funds.

About Summit Therapeutics

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.