SUMMIT THERAPEU/S (SMMT) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) from a hold rating to a buy rating in a report published on Wednesday morning. The firm currently has $1.75 price objective on the stock.
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 equities research analysts have also issued reports on SMMT. Canaccord Genuity set a $3.00 price target on SUMMIT THERAPEU/S and gave the company a buy rating in a research report on Thursday, August 16th. ValuEngine lowered SUMMIT THERAPEU/S from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Finally, HC Wainwright set a $3.00 price objective on SUMMIT THERAPEU/S and gave the stock a buy rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. SUMMIT THERAPEU/S presently has a consensus rating of Hold and an average price target of $13.09.
SUMMIT THERAPEU/S (NASDAQ:SMMT) last posted its quarterly earnings results on Thursday, September 20th. The company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $2.84. The business had revenue of $49.82 million during the quarter. SUMMIT THERAPEU/S had a return on equity of 58.72% and a net margin of 13.38%. Equities research analysts forecast that SUMMIT THERAPEU/S will post 0.96 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in SUMMIT THERAPEU/S stock. Royal Bank of Canada grew its position in shares of SUMMIT THERAPEU/S (NASDAQ:SMMT) by 376.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,900 shares of the company’s stock after purchasing an additional 9,400 shares during the period. Royal Bank of Canada owned approximately 0.09% of SUMMIT THERAPEU/S worth $154,000 as of its most recent SEC filing. 25.05% of the stock is currently owned by institutional investors and hedge funds.
About SUMMIT THERAPEU/S
Summit Therapeutics plc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of novel medicines to treat rare 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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