Summit Therapeutics PLC (SMMT) PT Raised to $29.00
Summit Therapeutics PLC (NASDAQ:SMMT) had its price target upped by RBC Capital Markets from $26.00 to $29.00 in a research note issued on Wednesday. The brokerage currently has an “outperform” rating on the stock. RBC Capital Markets’ price target indicates a potential upside of 176.19% from the stock’s current price.
Several other analysts have also recently commented on SMMT. Zacks Investment Research upgraded shares of Summit Therapeutics PLC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, September 14th. Royal Bank Of Canada upped their target price on shares of Summit Therapeutics PLC from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity set a $28.00 target price on shares of Summit Therapeutics PLC and gave the company a “buy” rating in a research report on Wednesday, October 5th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $28.00 target price on shares of Summit Therapeutics PLC in a research report on Wednesday, October 5th. Finally, Needham & Company LLC upped 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, October 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.29.
Shares of Summit Therapeutics PLC (NASDAQ:SMMT) opened at 10.50 on Wednesday. The firm’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00. Summit Therapeutics PLC has a 52-week low of $4.26 and a 52-week high of $19.75.
An institutional investor recently bought a new position in Summit Therapeutics PLC stock. Granite Point Capital Management L.P. acquired a new position in Summit Therapeutics PLC (NASDAQ:SMMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 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 reporting period. 23.43% of the stock is owned by institutional investors and hedge funds.
Summit Therapeutics PLC Company Profile
Summit Therapeutics plc is a biopharmaceutical company, which is engaged in drug development. The Company is focused on the discovery, development and commercialization of medicines for indications for which there are no existing or only inadequate therapies. It is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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