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

Summit Therapeutics PLC (NASDAQ:SMMT) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $28.1667.

Several research analysts have commented on the company. Truist Financial upgraded Summit Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Stifel Nicolaus assumed coverage on Summit Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group downgraded Summit Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $42.00 to $15.00 in a research note on Monday, March 16th. Zacks Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research note on Tuesday, April 21st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SMMT. Price T Rowe Associates Inc. MD boosted its stake in Summit Therapeutics by 106.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,371,415 shares of the company’s stock worth $163,907,000 after purchasing an additional 4,832,592 shares during the period. Vanguard Group Inc. boosted its stake in Summit Therapeutics by 31.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,379,728 shares of the company’s stock worth $235,105,000 after purchasing an additional 2,706,056 shares during the period. Baker BROS. Advisors LP boosted its stake in Summit Therapeutics by 7.9% in the 4th quarter. Baker BROS. Advisors LP now owns 36,391,063 shares of the company’s stock worth $636,480,000 after purchasing an additional 2,668,089 shares during the period. Norges Bank purchased a new stake in shares of Summit Therapeutics in the 4th quarter valued at about $24,030,000. Finally, TD Asset Management Inc raised its holdings in shares of Summit Therapeutics by 124.2% in the 4th quarter. TD Asset Management Inc now owns 1,205,272 shares of the company’s stock valued at $21,080,000 after acquiring an additional 667,742 shares in the last quarter. Institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Stock Performance

SMMT stock opened at $16.11 on Friday. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of -11.11 and a beta of -1.25. Summit Therapeutics has a fifty-two week low of $13.83 and a fifty-two week high of $30.98. The stock has a fifty day moving average of $18.43 and a 200-day moving average of $17.87.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. Equities analysts predict that Summit Therapeutics will post -1.31 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.