Summit Therapeutics (SMMT) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Summit Therapeutics (NASDAQ:SMMT) from a strong sell rating to a hold rating in a research note published on Thursday.
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. “
Several other equities analysts have also recently weighed in on SMMT. HC Wainwright set a $20.00 price objective on Summit Therapeutics and gave the company a buy rating in a report on Wednesday. Needham & Company LLC decreased their price objective on Summit Therapeutics from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, April 12th. ValuEngine upgraded Summit Therapeutics from a sell rating to a hold rating in a report on Friday, March 2nd. SunTrust Banks began coverage on Summit Therapeutics in a report on Thursday, January 4th. They issued a buy rating and a $24.00 price objective for the company. Finally, BTIG Research began coverage on Summit Therapeutics in a report on Tuesday, February 13th. They issued a buy rating and a $33.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Summit Therapeutics currently has a consensus rating of Buy and a consensus target price of $25.14.
Summit Therapeutics (NASDAQ:SMMT) last announced its quarterly earnings data on Wednesday, April 11th. The company reported ($1.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by ($0.34). The company had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.91 million. Summit Therapeutics had a negative net margin of 30.89% and a negative return on equity of 146.46%. sell-side analysts expect that Summit Therapeutics will post -2.74 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in Summit Therapeutics by 29.5% during the fourth quarter. Millennium Management LLC now owns 99,873 shares of the company’s stock worth $1,107,000 after purchasing an additional 22,759 shares during the period. Renaissance Technologies LLC grew its holdings in Summit Therapeutics by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 116,600 shares of the company’s stock worth $1,292,000 after purchasing an additional 15,600 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Summit Therapeutics by 192.8% during the fourth quarter. Acadian Asset Management LLC now owns 144,083 shares of the company’s stock worth $1,595,000 after purchasing an additional 94,876 shares during the period. Institutional investors and hedge funds own 29.03% of the company’s stock.
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Summit Therapeutics Company Profile
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat genetic and infectious diseases in the United Kingdom and North America. It is conducting clinical programmes focused on the genetic disease Duchenne muscular dystrophy (DMD) and the infectious disease Clostridium difficile infection (CDI).
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