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

Summit Therapeutics PLC (NASDAQ:SMMT) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $32.25.

Several brokerages have weighed in on SMMT. Citizens Jmp reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Summit Therapeutics in a report on Friday, January 30th. Piper Sandler set a $40.00 price objective on shares of Summit Therapeutics in a research note on Wednesday, January 14th. HC Wainwright decreased their price objective on shares of Summit Therapeutics from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Thursday, January 22nd. Finally, Barclays raised shares of Summit Therapeutics from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $16.00 to $18.00 in a report on Wednesday, December 17th.

Hedge Funds Weigh In On Summit Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new position in shares of Summit Therapeutics in the fourth quarter worth about $1,723,000. T. Rowe Price Investment Management Inc. raised its stake in Summit Therapeutics by 2,654.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock valued at $33,000 after purchasing an additional 1,805 shares during the period. Invesco Ltd. raised its stake in Summit Therapeutics by 8.3% during the 4th quarter. Invesco Ltd. now owns 461,301 shares of the company’s stock valued at $8,068,000 after purchasing an additional 35,226 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in Summit Therapeutics by 10.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 39,611 shares of the company’s stock worth $693,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its holdings in Summit Therapeutics by 168.3% in the 4th quarter. Virtus Investment Advisers LLC now owns 15,141 shares of the company’s stock worth $265,000 after purchasing an additional 9,497 shares in the last quarter. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Stock Down 3.9%

NASDAQ SMMT opened at $15.46 on Friday. Summit Therapeutics has a 52 week low of $13.83 and a 52 week high of $36.91. The company has a market capitalization of $11.99 billion, a P/E ratio of -10.66 and a beta of -1.43. The stock’s 50-day moving average price is $16.09 and its 200-day moving average price is $18.32.

Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). Research analysts anticipate that Summit Therapeutics will post -0.3 EPS for the current year.

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.