Summit Therapeutics PLC (NASDAQ:SMMT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.6154.

Several research analysts have recently commented on SMMT shares. Citizens Jmp reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of Summit Therapeutics in a research note on Friday, January 30th. Summit Redstone set a $18.00 target price on shares of Summit Therapeutics in a research note on Wednesday, December 17th. Zacks Research lowered shares of Summit Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Summit Therapeutics in a research report on Monday, October 20th. Finally, Citigroup restated a “market outperform” rating on shares of Summit Therapeutics in a research note on Friday, January 30th.

Summit Therapeutics Price Performance

Shares of SMMT stock opened at $14.96 on Monday. The company has a market cap of $11.54 billion, a price-to-earnings ratio of -12.06 and a beta of -1.44. Summit Therapeutics has a 1 year low of $13.83 and a 1 year high of $36.91. The firm has a fifty day moving average price of $16.86 and a 200-day moving average price of $19.81.

Institutional Trading of Summit Therapeutics

Several institutional investors have recently made changes to their positions in the business. Crowley Wealth Management Inc. lifted its holdings in Summit Therapeutics by 66.7% in the 3rd quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock worth $31,000 after purchasing an additional 600 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Summit Therapeutics during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Summit Therapeutics by 34.1% in the second quarter. SBI Securities Co. Ltd. now owns 1,756 shares of the company’s stock worth $37,000 after buying an additional 447 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Summit Therapeutics during the third quarter worth $39,000. Finally, PNC Financial Services Group Inc. grew its stake in Summit Therapeutics by 325.5% during the second quarter. PNC Financial Services Group Inc. now owns 2,638 shares of the company’s stock valued at $56,000 after acquiring an additional 2,018 shares in the last quarter. Hedge funds and other institutional investors own 4.61% of the company’s stock.

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.