Canaccord Genuity set a $28.00 price objective on Summit Therapeutics PLC (NASDAQ:SMMT) in a report released on Wednesday. The brokerage currently has a a buy rating on the stock.

A number of other analysts also recently weighed in on SMMT. Zacks Investment Research downgraded shares of Summit Therapeutics PLC from a hold rating to a sell rating in a research report on Tuesday, July 5th. Oppenheimer Holdings Inc. reissued a buy rating on shares of Summit Therapeutics PLC in a research report on Thursday, June 16th. Janney Montgomery Scott began coverage on shares of Summit Therapeutics PLC in a research report on Tuesday, June 21st. They set a buy rating for the company. Needham & Company LLC increased their target price on shares of Summit Therapeutics PLC from $22.00 to $30.00 and gave the company a buy rating in a research report on Tuesday. Finally, HC Wainwright began coverage on shares of Summit Therapeutics PLC in a research report on Friday, September 16th. They set a buy rating and a $26.00 target price for the company. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $23.80.

Analyst Recommendations for Summit Therapeutics PLC (NASDAQ:SMMT)

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) traded down 7.8997% during mid-day trading on Wednesday, hitting $13.2164. 190,887 shares of the stock were exchanged. The stock’s 50 day moving average price is $7.69 and its 200-day moving average price is $7.73. Summit Therapeutics PLC has a 12-month low of $4.26 and a 12-month high of $19.75. The stock’s market capitalization is $162.48 million.

A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Granite Point Capital Management L.P. bought a new position in Summit Therapeutics PLC (NASDAQ:SMMT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 112,676 shares of the company’s stock, valued at approximately $891,000. Granite Point Capital Management L.P. owned approximately 0.92% of Summit Therapeutics PLC at the end of the most recent quarter. Institutional investors own 23.43% of the company’s stock.

About Summit Therapeutics PLC

Summit Therapeutics plc, formerly Summit Corporation plc, is a United Kingdom-based biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. The Company is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).

5 Day Chart for NASDAQ:SMMT

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