SunTrust Banks assumed coverage on shares of Summit Therapeutics (NASDAQ:SMMT) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $24.00 price target on the stock.

A number of other equities research analysts have also issued reports on SMMT. HC Wainwright set a $16.00 target price on Summit Therapeutics and gave the stock a buy rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered Summit Therapeutics from a hold rating to a sell rating in a research report on Thursday, December 28th. Oppenheimer reaffirmed a buy rating and set a $24.00 target price on shares of Summit Therapeutics in a research report on Monday, October 16th. Canaccord Genuity reaffirmed a buy rating on shares of Summit Therapeutics in a research report on Monday, October 16th. Finally, ValuEngine lowered Summit Therapeutics from a hold rating to a sell rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Summit Therapeutics currently has a consensus rating of Buy and an average target price of $21.00.

Shares of Summit Therapeutics (SMMT) traded down $0.19 during trading on Thursday, hitting $11.07. The stock had a trading volume of 32,998 shares, compared to its average volume of 19,805. The firm has a market capitalization of $153.39, a price-to-earnings ratio of -110.70 and a beta of 0.37. Summit Therapeutics has a 12 month low of $8.75 and a 12 month high of $16.86.

A number of large investors have recently bought and sold shares of SMMT. Alyeska Investment Group L.P. acquired a new position in Summit Therapeutics during the third quarter valued at $628,000. Highbridge Capital Management LLC acquired a new position in Summit Therapeutics during the third quarter valued at $1,004,000. Susquehanna International Group LLP acquired a new position in Summit Therapeutics during the third quarter valued at $1,828,000. Sphera Funds Management LTD. raised its position in Summit Therapeutics by 49.3% during the third quarter. Sphera Funds Management LTD. now owns 212,018 shares of the company’s stock valued at $2,654,000 after buying an additional 70,000 shares during the period. Finally, Granite Point Capital Management L.P. raised its position in Summit Therapeutics by 106.7% during the third quarter. Granite Point Capital Management L.P. now owns 242,113 shares of the company’s stock valued at $3,031,000 after buying an additional 125,000 shares during the period. 29.30% of the stock is currently owned by hedge funds and other institutional investors.

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About Summit Therapeutics

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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