Summit Therapeutics PLC (NASDAQ:SMMT) rose 7.5% during mid-day trading on Wednesday after Needham & Company raised their price target on the stock from $22.00 to $30.00. Needham & Company currently has a buy rating on the stock. Summit Therapeutics PLC traded as high as $15.70 and last traded at $15.43, with a volume of 703,661 shares. The stock had previously closed at $14.35.

Several other brokerages have also issued reports on SMMT. Canaccord Genuity restated a “buy” rating on shares of Summit Therapeutics PLC in a research note on Thursday, June 16th. Zacks Investment Research upgraded shares of Summit Therapeutics PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Summit Therapeutics PLC in a research note on Thursday, June 16th. Janney Montgomery Scott assumed coverage on shares of Summit Therapeutics PLC in a research note on Tuesday, June 21st. They issued a “buy” rating for the company. Finally, HC Wainwright assumed coverage on shares of Summit Therapeutics PLC in a research note on Friday, September 16th. They issued a “buy” rating and a $26.00 price objective for the company. Six analysts have rated the stock with a buy rating, Summit Therapeutics PLC currently has an average rating of “Buy” and an average price target of $23.80.

An institutional investor recently raised its position in Summit Therapeutics PLC stock. AXA increased its position in Summit Therapeutics PLC (NASDAQ:SMMT) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 382,705 shares of the company’s stock after buying an additional 5,500 shares during the period. AXA owned about 3.12% of Summit Therapeutics PLC worth $2,989,000 at the end of the most recent quarter. 23.43% of the stock is currently owned by hedge funds and other institutional investors.

The company’s market capitalization is $176.42 million. The stock has a 50 day moving average price of $7.69 and a 200-day moving average price of $7.73.

Summit Therapeutics PLC Company Profile

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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