Zacks Investment Research downgraded shares of Summit Therapeutics PLC (NASDAQ:SMMT) from a strong-buy rating to a hold rating in a research note published 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 analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. set a $24.00 price target on shares of Summit Therapeutics PLC and gave the stock a buy rating in a research note on Thursday, June 22nd. Canaccord Genuity reaffirmed a buy rating and issued a $28.00 price target on shares of Summit Therapeutics PLC in a research note on Friday, June 16th. Finally, ValuEngine raised shares of Summit Therapeutics PLC from a sell rating to a hold rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Summit Therapeutics PLC currently has an average rating of Buy and an average target price of $25.00.

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) opened at 14.39 on Wednesday. The firm’s market cap is $178.16 million. Summit Therapeutics PLC has a 12 month low of $5.31 and a 12 month high of $19.75. The company has a 50-day moving average of $13.23 and a 200-day moving average of $12.09.

Summit Therapeutics PLC (NASDAQ:SMMT) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by $0.28. The company had revenue of $25.01 million during the quarter, compared to analyst estimates of $31.37 million. Summit Therapeutics PLC had a negative return on equity of 29,334.40% and a negative net margin of 12.44%. Equities analysts forecast that Summit Therapeutics PLC will post ($0.60) EPS for the current fiscal year.

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A hedge fund recently bought a new stake in Summit Therapeutics PLC stock. Renaissance Technologies LLC bought a new stake in shares of Summit Therapeutics PLC (NASDAQ:SMMT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,102 shares of the company’s stock, valued at approximately $267,000. Renaissance Technologies LLC owned about 0.16% of Summit Therapeutics PLC at the end of the most recent reporting period. 21.77% of the stock is owned by institutional investors.

About Summit Therapeutics PLC

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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