Summit Therapeutics PLC (NASDAQ:SMMT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Summit Therapeutics PLC (NASDAQ:SMMT) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $29.8333.

SMMT has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Summit Therapeutics in a research report on Thursday, January 22nd. Zacks Research upgraded Summit Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Barclays upgraded Summit Therapeutics from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $16.00 to $18.00 in a research report on Wednesday, December 17th. Jefferies Financial Group downgraded Summit Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $42.00 to $15.00 in a research report on Monday, March 16th. Finally, Truist Financial raised Summit Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th.

Institutional Investors Weigh In On Summit Therapeutics

A number of institutional investors have recently made changes to their positions in SMMT. Kestra Advisory Services LLC purchased a new position in Summit Therapeutics in the 4th quarter worth $28,000. Crowley Wealth Management Inc. boosted its position in Summit Therapeutics by 66.7% during the third quarter. Crowley Wealth Management Inc. now owns 1,500 shares of the company’s stock valued at $31,000 after buying an additional 600 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Summit Therapeutics by 2,654.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,873 shares of the company’s stock valued at $33,000 after buying an additional 1,805 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Summit Therapeutics in the third quarter worth about $39,000. Finally, Truvestments Capital LLC increased its holdings in shares of Summit Therapeutics by 200.2% in the fourth quarter. Truvestments Capital LLC now owns 2,603 shares of the company’s stock worth $46,000 after buying an additional 1,736 shares during the period. Hedge funds and other institutional investors own 4.61% of the company’s stock.

Summit Therapeutics Price Performance

Shares of NASDAQ:SMMT opened at $19.38 on Tuesday. The company’s fifty day moving average price is $15.91 and its 200-day moving average price is $17.71. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of -13.37 and a beta of -1.36. Summit Therapeutics has a one year low of $13.83 and a one year high of $36.91.

Summit Therapeutics (NASDAQ:SMMT) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). As a group, equities research analysts expect that Summit Therapeutics will post -0.3 EPS for the current year.

About Summit Therapeutics

Summit Therapeutics plc is a clinical‐stage biotechnology company dedicated to the discovery and development of precision medicines for serious and life‐threatening diseases. The company applies a targeted approach to drug design, focusing on novel mechanisms of action that differentiate its candidates from existing therapies.

Summit’s lead asset, ridinilazole (formerly SMT19969), is being developed to treat Clostridioides difficile infections and has received both Fast Track and Qualified Infectious Disease Product designations from the U.S.