Zacks Investment Research Upgrades Summit Therapeutics (SMMT) to Hold

Summit Therapeutics (NASDAQ:SMMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

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Other research analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Summit Therapeutics in a report on Thursday, January 25th. SunTrust Banks initiated coverage on Summit Therapeutics in a report on Thursday, January 4th. They issued a “buy” rating and a $24.00 price objective on the stock. BTIG Research initiated coverage on Summit Therapeutics in a report on Tuesday, February 13th. They issued a “buy” rating and a $33.00 price objective on the stock. ValuEngine upgraded Summit Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, Oppenheimer raised their price objective on Summit Therapeutics from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.17.

Shares of SMMT stock opened at $12.29 on Friday. The firm has a market capitalization of $170.14, a price-to-earnings ratio of -5.59 and a beta of 0.80. Summit Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $16.86.

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in shares of Summit Therapeutics by 29.5% in the 4th quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after acquiring an additional 22,759 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Summit Therapeutics by 15.4% in the 4th quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after acquiring an additional 15,600 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Summit Therapeutics by 192.8% in the 4th quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock worth $1,595,000 after acquiring an additional 94,876 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Summit Therapeutics in the 3rd quarter worth $1,828,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Summit Therapeutics by 0.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 806,471 shares of the company’s stock worth $10,121,000 after acquiring an additional 5,240 shares during the last quarter. 29.03% of the stock is owned by institutional investors and hedge funds.

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Summit Therapeutics Company Profile

Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

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