Summit Therapeutics PLC (NASDAQ:SMMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

A number of other brokerages also recently issued reports on SMMT. Canaccord Genuity set a $28.00 price target on shares of Summit Therapeutics PLC and gave the stock a “buy” rating in a report on Wednesday, October 5th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a report on Wednesday, October 5th. HC Wainwright initiated coverage on shares of Summit Therapeutics PLC in a report on Friday, September 16th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of Summit Therapeutics PLC from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.80.

Analyst Recommendations for Summit Therapeutics PLC (NASDAQ:SMMT)

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) opened at 11.30 on Wednesday. Summit Therapeutics PLC has a 12-month low of $4.26 and a 12-month high of $19.75. The firm’s 50-day moving average is $0.00 and its 200-day moving average is $0.00.

A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Granite Point Capital Management L.P. bought a new position in shares of Summit Therapeutics PLC (NASDAQ:SMMT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 23.43% of the stock is currently owned by institutional investors.

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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